Brookfield Asset Management (BAM) 40-F27 Mar 202019 Q4 Annual report (Canada)Financial data

Company Profile

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION	12 Months Ended
DOCUMENT AND ENTITY INFORMATION	Dec. 31, 2019shares
Document Information [Line Items]
Entity Registrant Name	BROOKFIELD ASSET MANAGEMENT INC.
Entity Central Index Key	0001001085
Current Fiscal Year End Date	--12-31
Document Type	40-F
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q4
Amendment Flag	false
Entity Emerging Growth Company	false
Class A Limited Voting Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	1,006,110,641
Class B Limited Voting Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	85,120

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 6,778		$ 8,390	$ 5,139
Other financial assets	12,468		6,227
Accounts receivable and other	18,469		16,931
Inventory	10,272		6,989
Assets classified as held for sale	3,502		2,185
Equity accounted investments	40,698		33,647	31,994
Investment properties	96,686		84,309	56,870
Property, plant and equipment	89,264		67,294
Intangible assets	27,710		18,762	14,242
Goodwill	14,550		8,815	$ 5,317
Deferred income tax assets	3,572		2,732
Total assets	323,969		256,281
Liabilities and Equity
Accounts payable and other	43,077	$ 43,077	23,989
Liabilities associated with assets classified as held for sale	1,690		812
Non-recourse borrowings of managed entities	136,292		111,809
Corporate borrowings	7,083		6,409
Property-specific borrowings	127,869		103,209
Subsidiary borrowings	8,423		8,600
Deferred income tax liabilities	14,849		12,236
Subsidiary equity obligations	4,132		3,876
Equity [abstract]
Equity	116,846		97,150
Total liabilities and equity	323,969		256,281
Non-controlling interests
Equity [abstract]
Equity	81,833		67,335
Preferred shares \| Preferred equity
Equity [abstract]
Equity	4,145		4,168
Preferred shares \| Non-controlling interests
Equity [abstract]
Equity	5,276		5,226
Common shares \| Non-controlling interests
Equity [abstract]
Equity	76,557		62,109
Common shares \| Common equity
Equity [abstract]
Equity	$ 30,868		$ 25,647

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Profit or loss [abstract]
Revenue	$ 67,826	$ 56,771
Direct costs	52,728	45,519
Other income and gains	1,285	1,166
Equity accounted income	2,498	1,088
Expenses
Interest	(7,227)	(4,854)
Corporate costs	(98)	(104)
Fair value changes	(831)	1,794
Depreciation and amortization	(4,876)	(3,102)
Tax expense (income)	(495)	248
Net income	5,354	7,488
Net income attributable to:
Shareholders	2,807	3,584
Non-controlling interests	2,547	3,904
Net income	$ 5,354	$ 7,488
Net income per share:
Diluted	$ 2.60	$ 3.40
Basic	$ 2.66	$ 3.47

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Statement of comprehensive income [abstract]
Revenue	$ 67,826	$ 56,771
Net income	5,354	7,488
Items that may be reclassified to net income
Financial contracts and power sale agreements	(52)	(20)
Marketable securities	75	(34)
Equity accounted investments	(37)	(29)
Foreign currency translation	(403)	(3,254)
Income taxes	(15)	(90)
Other comprehensive income that may be reclassified to net income	(432)	(3,427)
Items that will not be reclassified to net income
Revaluations of property, plant and equipment	3,328	6,290
Revaluation of pension obligations	(149)	(19)
Equity accounted investments	354	547
Marketable securities	299	94
Income taxes	(688)	(1,324)
Other comprehensive income that will not be reclassified to net income	3,144	5,588
Other comprehensive income	2,712	2,161
Comprehensive income	8,066	9,649
Attributable to:
Net income attributable to shareholders	2,807	3,584
Other comprehensive income	524	406
Comprehensive income	3,331	3,990
Net income	2,547	3,904
Other comprehensive income	2,188	1,755
Comprehensive income	4,735	5,659
Direct costs	52,728	45,519
Other income and gains	1,285	1,166
Consolidated equity accounted income	2,498	1,088
Interest expense	7,227	4,854
Corporate Costs	98	104
Fair value changes	(831)	1,794
Depreciation and amortisation expense	(4,876)	(3,102)
Tax expense (income)	$ (495)	$ 248
Diluted	$ 2.60	$ 3.40
Basic	$ 2.66	$ 3.47

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Non-controlling interests	Common sharesCommon Share Capital	Common sharesContributed Surplus	Common sharesRetained Earnings	Common sharesOwnership Changes1	Common sharesRevaluation Surplus	Common sharesCurrency Translation	Common sharesOther Reserves2	Common sharesCommon equity	Common sharesNon-controlling interests	Preferred sharesPreferred equity	Preferred sharesNon-controlling interests
Equity, Adjusted Balance	$ 79,570	$ 51,544	$ 4,428	$ 263	$ 11,649	$ 1,459	$ 6,881	$ (878)	$ 32	$ 23,834		$ 4,192
Beginning balance (Previously stated) at Dec. 31, 2017	79,872	51,628	4,428	263	11,864	1,459	6,881	(878)	35	24,052		4,192
Beginning balance (Increase (decrease) due to changes in accounting policy required by IFRSs [member]) at Dec. 31, 2017	(302)	(84)			(215)				(3)	(218)
Changes in period:
Net income attributable to shareholders	3,584
Non-controlling interests	3,904
Net income	7,488
Other comprehensive income	406						1,060	(959)	305
Other comprehensive income	1,755
Other comprehensive income	2,161
Comprehensive income, attributable to owners of parent	3,990						1,060	(959)	305
Comprehensive income, attributable to non-controlling interests	5,659
Comprehensive income	9,649
Shareholder distributions
Preferred equity	(151)				151					(151)
Non-controlling interests	(6,709)	(6,709)
Other items
Issue of equity	6,280	6,663	29	(44)	(344)					(359)		(24)
Share-based compensation	26	7		52	(33)					19
Ownership changes	9,060	10,171			114	(814)	(385)	4	(30)	(1,111)
Total change in period	17,580	15,791	29	8	2,595	(814)	675	(955)	275	1,813		(24)
Ending balance (Previously stated) at Dec. 31, 2018	97,150	67,335	4,457	271	14,244	645	7,556	(1,833)	307	25,647		4,168
Ending balance (Increase (decrease) due to changes in accounting policy required by IFRSs [member]) at Dec. 31, 2018	0									0		0
Ending balance at Dec. 31, 2018	97,150	67,335	4,457	271	14,244	645	7,556	(1,833)	307	25,647	$ 62,109	4,168	$ 5,226
Other items
Common equity	(575)				575					(575)
Net income attributable to shareholders	2,807
Non-controlling interests	2,547
Net income	5,354
Other comprehensive income	524						591	(190)	123
Other comprehensive income	2,188
Other comprehensive income	2,712
Comprehensive income, attributable to owners of parent	3,331						591	(190)	123
Comprehensive income, attributable to non-controlling interests	4,735
Comprehensive income	8,066
Preferred equity	(152)				(152)					(152)
Non-controlling interests	(8,568)	(8,568)
Issue of equity	19,090	16,636	2,848	(40)	(331)					2,477		(23)
Share-based compensation	(13)	0		55	(68)					(13)
Ownership changes	1,893	1,695			146	365	(271)	6	(48)	198
Total change in period	19,696	14,498	2,848	15	1,782	365	320	(184)	75	5,221		(23)
Ending balance at Dec. 31, 2019	116,846	$ 81,833	$ 7,305	$ 286	16,026	$ 1,010	$ 7,876	$ (2,017)	$ 382	30,868	$ 76,557	$ 4,145	$ 5,276
Other items
Common equity	$ (620)				$ (620)					$ (620)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Net income	$ 5,354	$ 7,488
Other income and gains	(1,285)	(1,166)
Share of undistributed equity accounted earnings	(1,654)	(294)
Fair value changes	831	(1,794)
Depreciation and amortization	4,876	3,102
Deferred income taxes	(475)	(1,109)
Investments in residential inventory	(319)	258
Net change in non-cash working capital balances	(1,000)	(1,326)
Cash flows from (used in) operating activities	6,328	5,159
Financing activities
Corporate borrowings arranged	992	1,090
Corporate borrowings repaid	(450)	0
Commercial paper and bank borrowings, net	0	(103)
Non-recourse borrowings arranged	64,576	43,541
Non-recourse borrowings repaid	(42,215)	(28,243)
Non-recourse credit facilities, net	(926)	3,291
Subsidiary equity obligations issued	212	212
Subsidiary equity obligations redeemed	(45)	(485)
Capital provided from non-controlling interests	19,447	9,306
Capital repaid to non-controlling interests	(2,811)	(2,643)
Repayment of lease liability	(424)	0
Distributions to non-controlling interests	(8,568)	(6,709)
Distributions to shareholders	(772)	(726)
Cash flows from (used in) financing activities	28,746	18,136
Equity Issued/Redeemed [line items]
Incomes Taxes Paid Classified As Supplemental Cash Flow Disclosure	504	980
Interest Paid Classified As Supplemental Cash Flow Disclosure	6,323	4,712
Acquisitions
Investment properties	(6,921)	(2,879)
Property, plant and equipment	(3,053)	(1,962)
Equity accounted investments	(5,534)	(953)
Financial assets and other	(10,830)	(5,288)
Acquisition of subsidiaries	(31,088)	(22,269)
Dispositions
Investment properties	5,239	4,311
Property, plant and equipment	140	787
Equity accounted investments	1,725	2,163
Financial assets and other	10,850	4,523
Disposition of subsidiaries	2,336	1,729
Restricted cash and deposits	462	5
Cash flows from (used in) investing activities	(36,674)	(19,833)
Cash and cash equivalents
Change in cash and cash equivalents	(1,600)	3,462
Net change in cash classified within assets held for sale	(7)	(1)
Foreign exchange revaluation	(5)	(210)
Balance, beginning of year	8,390	5,139
Balance, end of year	6,778	8,390
Preferred shares
Equity Issued/Redeemed [line items]
Equity redeemed	(16)	(17)
Common shares
Equity Issued/Redeemed [line items]
Equity issued	13	11
Equity redeemed	$ (267)	$ (389)

CORPORATE INFORMATION

CORPORATE INFORMATION	12 Months Ended
CORPORATE INFORMATION	Dec. 31, 2019
Management Commentary Explanatory [Abstract]
CORPORATE INFORMATION	CORPORATE INFORMATION Brookfield Asset Management Inc. (the “Corporation”) is a global alternative asset management company. References in these financial statements to “Brookfield,” “us,” “we,” “our” or “the company” refer to the Corporation and its direct and indirect subsidiaries and consolidated entities. The company owns and operates assets with a focus on real estate, renewable power, infrastructure and private equity. The Corporation is listed on the New York and Toronto stock exchanges under the symbols BAM and BAM.A, respectively. The Corporation was formed by articles of amalgamation under the Business Corporations Act (Ontario) and is registered in Ontario, Canada. The registered office of the Corporation is Brookfield Place, 181 Bay Street, Suite 300, Toronto, Ontario, M5J 2T3.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2019
Disclosure of Significant Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES a) Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These financial statements were authorized for issuance by the Board of Directors of the company on March 26, 2020. b) Adoption of Accounting Standards The company has applied new and revised standards issued by the IASB that are effective for the period beginning on or after January 1, 2019 . The new standards were applied as follows: i. Leases The company adopted IFRS 16 Leases (“IFRS 16”) effective January 1, 2019. IFRS 16 gives prescriptive guidance on the recognition, measurement, presentation and disclosure of leases. This standard supersedes IAS 17 Leases (“IAS 17”) and related interpretations. The company adopted the standard using a modified retrospective approach, whereby any transitional impact is recorded in equity as at January 1, 2019 and comparative periods are not restated. Please refer to the Transition Impact below for more information. Under IFRS 16, the company must assess whether a contract is, or contains, a lease at inception of the contract. A contract is, or contains, a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control exists if a customer can make the important decisions governing the use of an asset specified in a contract similar to decisions made over assets owned by the business. The company has elected to not allocate contract consideration between lease and non-lease components, but rather account for each lease and non-lease component as a single lease component. This election is made by asset class. Accounting for lessors remains largely unchanged and the distinction between operating and finance leases is retained. For lessors, a lease shall be classified as either a finance or operating lease on commencement of the lease contract. If the contract represents a finance lease in which the risk and rewards of ownership have transferred to the lessee, a lessor shall recognize a finance lease receivable at an amount equal to the net investment in the lease discounted using the interest rate implicit in the lease. Subsequently, finance income is recognized at a constant rate on the net investment of the finance lease. Lease payments received from operating leases shall be recognized into income on a straight-line or other systematic basis. For lessees, the distinction between operating and finance leases is eliminated. The company recognizes a right-of-use (“ROU”) asset and lease liability at the lease commencement date. The ROU asset is initially measured based on the calculated lease liability plus initial direct costs incurred by the lessee, estimates to dismantle and restore the underlying asset at the end of the lease term and lease payments made net of incentives received at or before the lease commencement date. It is classified as either investment property, property, plant and equipment (“PP&E”), or inventory depending on the nature of the asset and is subsequently accounted for consistently with owned assets within the respective asset classes with the exception of PP&E. Unlike most of the company’s owned assets within PP&E, lease assets classified within PP&E are subsequently measured applying the cost method rather than the revaluation method. The ROU asset is depreciated applying a straight-line method or other systematic basis over the shorter of the useful life of the underlying asset or the term of the lease. Lease contracts often include an option to extend the term of the lease and such extensions are factored into the lease term if the company is reasonably certain to exercise that option. ROU assets are tested for impairment in accordance with IAS 36 Impairment of Assets . Refer to section (d) below for additional details of our accounting policies governing investment property, PP&E and inventory. Lease liabilities are classified within accounts payable and other and are recognized at the commencement of the lease, initially measured at the present value of future lease payments not paid as at the commencement date, discounted using the interest rate implicit in the lease, or the lessee’s incremental borrowing rate if the implicit rate cannot be readily determined. Lease liabilities are subsequently measured at amortized cost by applying the effective interest method. Lease liabilities are remeasured if there is reassessment of the timing or amount of future lease payments arising from a change in an index or rate, revisions to estimates of the lease term or residual value guarantee, or a change in the assessment of an option to purchase the underlying asset. Such remeasurements of the lease liability are generally recognized as an adjustment to the ROU asset unless further reduction in the measurement of the lease liability would reduce a ROU asset below zero in which case it is recorded in the Consolidated Statements of Operations. We are applying certain practical expedients as permitted by the standard; specifically, we have elected to apply practical expedients associated with short-term and low-value leases that allow the company to record operating expenses on such leases on a straight-line basis without having to capitalize the lease arrangement. In addition, as required by the standard, variable lease payments that are not dependent on an index or rate are expensed as incurred. We have also applied a number of critical judgments in applying this standard, including: i) identifying whether a contract (or part of a contract) includes a lease; ii) determining whether it is reasonably certain that lease extension or termination options will be exercised in determining the lease term; and iii) determining whether variable payments are in-substance fixed. Critical estimates used in the application of IFRS 16 include estimating the lease term and determining the appropriate rate at which to discount the lease payments. Transition Impact The company adopted IFRS 16 using the modified retrospective approach, whereby any transitional impact is recorded in equity as at January 1, 2019, and comparative periods are not restated and comply with the legacy IAS 17 and related standards. The company has measured the opening ROU assets at an amount equal to the corresponding lease liabilities, adjusted by any prepaid or accrued lease payments relating to that lease recognized prior to the adoption. In addition, the company has applied certain transition expedients as permitted by the standard, including the application of a single discount rate to a portfolio of leases with reasonably similar characteristics, adjusting the ROU assets by the amount of any provision for onerous leases recognized under IAS 37 and accounting for leases with remaining terms of less than 12 months as of January 1, 2019, regardless of the full life of the lease, as short-term leases. There are no adjustments to opening equity. The difference between the operating lease commitments disclosed applying IAS 17 as at December 31, 2018 and the amount recorded as a transition adjustment relates primarily to the impact of discounting the future lease payments to their present value using incremental borrowing rates, short-term and low-value leases which are expensed as incurred, adjustments as a result of different treatment for extension and termination options and variable lease payments relating to changes in indices or rates. The weighted-average incremental borrowing rate as at January 1, 2019 used to measure lease liabilities is approximately 5%. The impact of adopting IFRS 16 on our balance sheet is as follows: (MILLIONS) Balance at Dec. 31, 2018 IFRS 16 Adjustments Balance at Jan. 1, 2019 Assets Inventory $ 6,989 $ 22 $ 7,011 Investment properties 84,309 928 85,237 Property, plant and equipment 67,294 3,416 70,710 Other assets 97,689 — 97,689 Total assets $ 256,281 $ 4,366 $ 260,647 Liabilities Accounts payable and other $ 23,989 $ 4,366 $ 28,355 Other liabilities 135,142 — 135,142 Total liabilities 159,131 4,366 163,497 Equity Preferred equity 4,168 — 4,168 Non-controlling interests 67,335 — 67,335 Common equity 25,647 — 25,647 Total equity 97,150 — 97,150 Total liabilities and equity $ 256,281 $ 4,366 $ 260,647 The company recognized ROU assets and lease liabilities of approximately $4.4 billion as at January 1, 2019. The changes relate primarily to : • investment property ground leases of $928 million on certain buildings classified as investment properties within our Real Estate segment; and • leases of ROU property, plant and equipment of $3.4 billion across our operating segments, including wind farm ground leases in our renewable power operations, ports in our infrastructure operations, hospitality assets in our real estate operations, fuel tanks and other equipment leases in certain of our private equity operations as well as various corporate office leases. Included in our interest expense for the year ended December 31, 2019 was $206 million related to interest on lease liabilities. We also reported depreciation of $459 million on our ROU assets as well as $63 million of fair value gains on ROU investment properties. ii. Uncertainty Over Income Tax Treatments In June 2017, the IASB published IFRIC 23 Uncertainty over Income Tax Treatments (“IFRIC 23”), effective for annual periods beginning on or after January 1, 2019. The interpretation requires an entity to assess whether it is probable that a tax authority will accept an uncertain tax treatment used, or proposed to be used, by an entity in its income tax filings and to exercise judgment in determining whether each tax treatment should be considered independently or whether some tax treatments should be considered together. The decision should be based on which approach provides better predictions of the resolution of the uncertainty. An entity also has to consider whether it is probable that the relevant authority will accept each tax treatment, or group of tax treatments, assuming that the taxation authority with the right to examine any amounts reported to it will examine those amounts and will have full knowledge of all relevant information when doing so. The interpretation has been applied on a modified retrospective basis without restatement of comparative information. There was no material impact on the company’s 2019 consolidated financial statements. iii. Business Combinations In October 2018, the IASB issued an amendment to IFRS 3 Business Combinations (“IFRS 3”), effective for annual periods beginning on or after January 1, 2020 with early adoption permitted. The amendment clarifies that a business must include, at minimum, an input and a substantive process that together contribute to the ability to create outputs, and assists companies in determining whether an acquisition is a business combination or an acquisition of a group of assets by providing supplemental guidance for assessing whether an acquired process is substantive. The company has decided to early adopt the amendments to IFRS 3 effective January 1, 2019 and applied the amended standard in assessing business combinations on a prospective basis. For acquisitions that are determined to be acquisitions of assets as opposed to business combinations, the company allocates the transaction price to the individual identifiable assets acquired and liabilities assumed on the basis of their relative fair values, and no goodwill is recognized. Acquisitions that continue to meet the definition of a business combination are accounted for under the acquisition method, without any changes to the company’s accounting policy. There was no material impact on the company’s 2019 consolidated financial statements. iv. Interest Rate Benchmark Reform The company adopted Interest Rate Benchmark Reform – Amendments to IFRS 9 and IFRS 7, issued in September 2019, (“IBOR Amendments”) effective October 1, 2019 in advance of its mandatory effective date. The IBOR Amendments have been applied retrospectively to hedging relationships existing at October 1, 2019 or were designated subsequently, and to the amount accumulated in the cash flow hedge reserve at that date. The IBOR Amendments provide temporary relief from applying specific hedge accounting requirements to the company’s hedging relationships which are directly affected by IBOR reform, which primarily include US$ LIBOR, £ LIBOR, and € EURIBOR. The reliefs have the effect that IBOR reform should not generally cause hedge accounting to terminate. In assessing whether a hedge is expected to be highly effective on a forward-looking basis, the company assumes the interest rate benchmark on which the cash flows of the derivative which hedges borrowings is not altered by IBOR reform. These reliefs cease to apply to a hedged item or hedging instrument as applicable at the earlier of: (i) when the uncertainty arising from IBOR reform is no longer present with respect to the timing and amount of the interest rate benchmark-based future cash flows; and (ii) when the hedging relationship is discontinued. There was no material impact on the company’s 2019 consolidated financial statements. It is currently expected that Secured Overnight Financing Rate (“SOFR”) will replace US$ LIBOR, Sterling Overnight Index Average (“SONIA”) will replace £ LIBOR, and Euro Short-term Rate (“€STR”) will replace EURIBOR. All of these are expected to become effective prior to December 31, 2021. The company is currently finalizing and implementing its transition plan to address the impact and effect changes as a result of amendments to the contractual terms of IBOR referenced floating-rate borrowings, interest rate swaps, and interest rate caps. c) Future Changes in Accounting Standards i. Insurance Contracts In May 2017, the IASB published IFRS 17, Insurance Contracts (“IFRS 17”), which establishes principles for the recognition, measurement, presentation and disclosure of insurance contracts. IFRS 17 will replace IFRS 4, Insurance Contracts . In November 2018, the IASB proposed to defer the effective date of IFRS 17 for insurers that elected the temporary exemption to be annual periods beginning on or after January 1, 2022. IFRS 17 requires insurance contract liabilities to be measured at a current fulfillment value and provides a more uniform measurement and presentation approach for all insurance contracts. The company is currently assessing the impact of IFRS 17 on its operations. d) Basis of Presentation The consolidated financial statements are prepared on a going concern basis. i. Subsidiaries The consolidated financial statements include the accounts of the company and its subsidiaries, which are the entities over which the company exercises control. Control exists when the company is able to exercise power over the investee, is exposed to variable returns from its involvement with the investee and has the ability to use its power over the investee to affect the amount of its returns. Subsidiaries are consolidated from the date control is obtained and continue to be consolidated until the date when control is lost. The company includes 100% of its subsidiaries’ revenues and expenses in the Consolidated Statements of Operations and 100% of its subsidiaries’ assets and liabilities on the Consolidated Balance Sheets, with non-controlling interests in the equity of the company’s subsidiaries included within the company’s equity. All intercompany balances, transactions, unrealized gains and losses are eliminated in full. The company continually reassesses whether or not it controls an investee, particularly if facts and circumstances indicate there is a change to one or more of the control criteria previously mentioned. In certain circumstances when the company has less than a majority of the voting rights of an investee, it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The company considers all relevant facts and circumstances in assessing whether or not the company’s voting rights are sufficient to give it control of an investee. Certain of the company’s subsidiaries are subject to profit sharing arrangements, such as carried interest, between the company and the non-controlling equity holders, whereby the company is entitled to a participation in profits, as determined under the agreements. The attribution of net income amongst equity holders in these subsidiaries reflects the impact of these profit sharing arrangements when the attribution of profits as determined in the agreement is no longer subject to adjustment based on future events and correspondingly reduces non-controlling interests ’ attributable share of those profits. Gains or losses resulting from changes in the company’s ownership interest of a subsidiary that do not result in a loss of control are accounted for as equity transactions and are recorded within ownership changes as a component of equity. When we dispose of all or part of a subsidiary resulting in a loss of control, the difference between the carrying value of what is sold and the proceeds from disposition is recognized within other income and gains in the Consolidated Statements of Operations. Refer to Note 2(r) for an explanation of the company’s accounting policy for business combinations and to Note 4 for additional information on subsidiaries of the company with significant non-controlling interests. ii. Associates and Joint Ventures Associates are entities over which the company exercises significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but without control or joint control over those policies. Joint ventures are joint arrangements whereby the parties that have joint control of the arrangement have the rights to the net assets of the joint arrangement. Joint control is the contractually agreed sharing of control over an arrangement, which exists only when decisions about the relevant activities require unanimous consent of the parties sharing control. The company accounts for associates and joint ventures using the equity method of accounting within equity accounted investments on the Consolidated Balance Sheets. Interests in associates and joint ventures accounted for using the equity method are initially recognized at cost. At the time of initial recognition, if the cost of the associate or joint venture is lower than the proportionate share of the investment’s underlying fair value, the company records a gain on the difference between the cost and the underlying fair value of the investment in net income. If the cost of the associate or joint venture is greater than the company’s proportionate share of the underlying fair value, goodwill relating to the associate or joint venture is included in the carrying amount of the investment. Subsequent to initial recognition, the carrying value of the company’s interest in an associate or joint venture is adjusted for the company’s share of comprehensive income and distributions of the investee. Profit and losses resulting from transactions with an associate or joint venture are recognized in the consolidated financial statements based on the interests of unrelated investors in the investee. The carrying value of associates or joint ventures is assessed for impairment at each balance sheet date. Impairment losses on equity accounted investments may be subsequently reversed in net income. Further information on the impairment of long-lived assets is available in Note 2(m). iii. Joint Operations A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, related to the arrangement. Joint control is the contractually agreed sharing of control of an arrangement which exists only when decisions about the relevant activities require unanimous consent of parties sharing control. The company recognizes only its assets, liabilities and share of the results of operations of the joint operation. The assets, liabilities and results of joint operations are included within the respective line items of the Consolidated Balance Sheets, Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income. e) Foreign Currency Translation The U.S. dollar is the functional and presentation currency of the company. Each of the company’s subsidiaries, associates, joint ventures and joint operations determines its own functional currency and items included in the consolidated financial statements of each subsidiary, associate, joint venture and joint operation are measured using that functional currency. Assets and liabilities of foreign operations having a functional currency other than the U.S. dollar are translated at the rate of exchange prevailing at the reporting date and revenues and expenses at average rates during the period. Gains or losses on translation are accumulated as a component of equity. On the disposal of a foreign operation, or the loss of control, joint control or significant influence, the component of accumulated other comprehensive income relating to that foreign operation is reclassified to net income. Gains or losses on foreign currency denominated balances and transactions that are designated as hedges of net investments in these operations are reported in the same manner. Foreign currency denominated monetary assets and liabilities of the company are translated using the rate of exchange prevailing at the reporting date and non-monetary assets and liabilities measured at fair value are translated at the rate of exchange prevailing at the date when the fair value was determined. Revenues and expenses are measured at average rates during the period. Gains or losses on translation of these items are included in net income. Gains or losses on transactions which hedge these items are also included in net income. Foreign currency denominated non-monetary assets and liabilities, measured at historic cost, are translated at the rate of exchange at the transaction date. f) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits and highly liquid short-term investments with original maturities of three months or less. g) Related Party Transactions In the normal course of operations, the company enters into various transactions on market terms with related parties. The majority of transactions with related parties are between consolidated entities and eliminate on consolidation. The company and its subsidiaries may also transact with entities over which the company has significant influence or joint control. Amounts owed to and by associates and joint ventures are not eliminated on consolidation. The company’s subsidiaries with significant non-controlling interests are described in Note 4 and its associates and joint ventures are described in Note 10. In addition to our subsidiaries and equity accounted investments, we consider key management personnel, the Board of Directors and material shareholders to be related parties. See additional details in Note 28. h) Operating Assets i. Investment Properties The company uses the fair value method to account for real estate classified as investment properties. A property is determined to be an investment property when it is principally held either to earn rental income or for capital appreciation, or both. Investment properties also include properties that are under development or redevelopment for future use as investment property. Investment properties are initially measured at cost including transaction costs , or at fair value if acquired in a business combination . Subsequent to initial recognition, investment properties are carried at fair value. Gains or losses arising from changes in fair value are included in net income during the period in which they arise. Fair values are completed by undertaking one of two accepted approaches: (i) discounting the expected future cash flows, generally over a term of 10 years including a terminal value based on the application of a capitalization rate to estimated year 11 net operating income, typically used for our office, retail and logistics assets; or (ii) undertaking a direct capitalization approach for certain of our LP investments and directly held multifamily assets whereby a capitalization rate is applied to estimated stabilized annual net operating income. The future cash flows of each property are based upon, among other things, rental income from current leases and assumptions about rental income from future leases reflecting current conditions, less future cash outflows relating to such current and future leases. Commercial developments are also measured using a discounted cash flow model, net of costs to complete, as of the balance sheet date. Development sites in the planning phases are carried at cost. ii. Property, Plant and Equipment The company uses the revaluation method of accounting for certain classes of property, plant and equipment as well as certain assets which are under development for future use as property, plant and equipment. Property, plant and equipment measured using the revaluation method is initially measured at cost , or at fair value if acquired in a business combination, and subsequently carried at its revalued amount, being the fair value at the date of the revaluation less any subsequent accumulated depreciation and any accumulated impairment losses. Revaluations are performed on an annual basis at the end of each fiscal year, commencing in the first year subsequent to the date of acquisition, unless there is an indication that assets are impaired. Where the carrying amount of an asset increases as a result of a revaluation, the increase is recognized in other comprehensive income and accumulated in equity in revaluation surplus, unless the increase reverses a previously recognized revaluation loss recorded through net income, in which case that portion of the increase is recognized in net income. Where the carrying amount of an asset decreases, the decrease is recognized in other comprehensive income to the extent of any balance existing in revaluation surplus in respect of the asset, with the remainder of the decrease recognized in net income. Depreciation of an asset commences when it is available for use. On loss of control or partial disposition of an asset measured using the revaluation method, all accumulated revaluation surplus or the portion disposed of, respectively, is transferred into retained earnings or ownership changes, respectively. Property, plant and equipment held in our Private Equity segment is measured at cost. Land is carried at cost whereas finite-life assets such as buildings and equipment are carried at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on a systematic basis over the assets’ useful life. Depreciation methods and useful lives are reassessed at least annually regardless of the measurement method used. Renewable Power Renewable power generating assets, including assets under development, are classified as property, plant and equipment and are accounted for using the revaluation method. The company determines the fair value of its renewable power generating assets using discounted cash flow analysis, which includes estimates of forecasted revenue, operating costs, maintenance and other capital expenditures. Discount rates are selected for each facility giving consideration to the expected proportion of contracted to uncontracted revenue and markets into which power is sold. For perpetual assets, such as many of our hydroelectric facilities, the first 20 years of cash flow are discounted with a residual value based on the terminal value cash flows. For assets with finite lives, which include wind and solar farms, the company discounts projected cash flows over the assets’ estimated remaining service lives. The fair value and estimated remaining service lives are reassessed on an annual basis. Depreciation on renewable power generating assets is calculated on a straight-line basis over the estimated service lives of the assets, which are as follows: (YEARS) Useful Lives Dams Up to 115 Penstocks Up to 60 Powerhouses Up to 115 Hydroelectric generating units Up to 115 Wind generating units Up to 41 Solar generating units Up to 30 Gas-fired cogenerating (“Cogeneration”) units Up to 40 Other assets Up to 60 Cost is allocated to the significant components of power generating assets and each component is depreciated separately. The depreciation of property, plant and equipment in our Brazilian renewable power operations is based on the duration of the authorization or the useful life of a concession. The weighted-average remaining duration at December 31, 2019 is 32 years ( 2018 – 29 years ). Land rights are included as part of the concession or authorization and are subject to depreciation. Infrastructure Utilities, tran sport, communication and energy assets within our infrastructure operations as well as assets under development classified as property, plant and equipment on the Consolidated Balance Sheets are accounted for using the revaluation method. The company determines the fair value of its utilities, transport, energy and data infrastructure assets using discounted cash flow analyses, which include estimates of forecasted revenue, operating costs, maintenance and other capital expenditures. Valuations are performed internally on an annual basis. Discount rates are selected for each asset, giving consideration to the volatility and geography of its revenue streams. Depreciation on utilities, transport, energy and data infrastructure assets i s calculated on a straight-line or declining balance basis over the estimated service lives of the components of the assets, which are as follows: (YEARS) Useful Lives Buildings Up to 75 Transmission stations, towers and related fixtures Up to 40 Leasehold improvements Up to 50 Plant and equipment Up to 40 Network systems Up to 65 Track Up to 40 District energy systems Up to 50 Gas storage assets Up to 50 The fair value and the estimated remaining service lives are reassessed annually. Public service concessions that provide the right to charge users for a service in which the service and fee is regulated by the grantor are accounted for as intangible assets. In our sustainable resources operations, land used in the production of standing timber, as well as bridges and roads used in sustainable resources production, are accounted for using the revaluation method and included in property, plant and equipment. Bridges, roads and equipment are depreciated over their useful lives, generally 3 to 30 years. Real Estate – Hospitality Assets Hospitality operating assets within our real estate operations are classified as property, plant and equipment and are accounted for using the revaluation method. The company determines the fair value for these assets by using a depreciated replacement cost method based on the age, physical condition and the construction costs of the assets. Fair value of hospitality properties are also reviewed in reference to each hospitality asset’s enterprise value which is determined using a discounted cash flow model. Depreciation on hospitality assets is calculated on a straight-line basis over the estimated useful lives of each component of the asset as follows: (YEARS) Useful Lives Building and building improvements 5 to 60 Land improvements 14 to 15 Furniture, fixtures and equipment 2 to 15 Private Equity The company accounts for its private equity property, plant and equipment using the cost model. Costs include expenditures that are directly attributable to the acquisition of the asset. Depreciation of an asset commences when it is available for use. PP&E is depreciated for each component of the following asset classes as follows: On a straight-line basis (YEARS) Useful Lives Buildings Up to 50 Leasehold improvements Up to 40 Machinery and equipment Up to 20 Vessels Up to 35 Not on a straight-line basis Useful Lives Oil and gas related equipment Units of production iii. Inventory Private Equity Fuel inventories within our Private Equity segment are traded in active markets and are purchased with the view to resell in the near future, generating a profit from fluctuations in prices or margins. As a result, fuel inventories are ca

SEGMENTED INFORMATION

SEGMENTED INFORMATION	12 Months Ended
SEGMENTED INFORMATION	Dec. 31, 2019
Disclosure of operating segments [abstract]
SEGMENTED INFORMATION	SEGMENTED INFORMATION a) Operating Segments Our operations are organized into five operating business groups in addition to our corporate and asset management activities, which collectively represent seven operating segments for internal and external reporting purposes. We measure performance primarily using funds from operations (“FFO”) generated by each operating segment and the amount of capital invested by the Corporation in each segment using common equity by segment. Our operating segments are as follows: i. Asset management operations include managing our long-term private funds, perpetual strategies and public securities on behalf of our investors and ourselves, as well as our share of the asset management activities of Oaktree Capital Management (“Oaktree”). We generate contractual base management fees for these activities as well as incentive distributions and performance income, including performance fees, transaction fees and carried interest. ii. Real estate operations include the ownership, operation and development of core office, core retail, LP investments and other properties. iii. Renewable power operations include the ownership, operation and development of hydroelectric, wind, solar, storage and other power generating facilities. iv. Infrastructure operations include the ownership, operation and development of utilities, transport, energy, data infrastructure and sustainable resource assets. v. Private equity operations include a broad range of industries, and are mostly focused on business services, infrastructure services and industrials. vi. Residential development operations consist of homebuilding, condominium development and land development. vii. Corporate activities include the investment of cash and financial assets, as well as the management of our corporate leverage, including corporate borrowings and preferred equity, which fund a portion of the capital invested in our other operations. Certain corporate costs such as technology and operations are incurred on behalf of our operating segments and allocated to each operating segment based on an internal pricing framework. b) Segment Financial Measures FFO is a key measure of our financial performance and our segment measure of profit and loss. It is utilized by our Chief Operating Decision Maker in assessing operating results and the performance of our businesses on a segmented basis. We define FFO as net income excluding fair value changes, depreciation and amortization and deferred income taxes, net of non-controlling interests. When determining FFO, we include our proportionate share of the FFO from equity accounted investments on a fully diluted basis. FFO also includes realized disposition gains and losses, which are gains or losses arising from transactions during the reporting period, adjusted to include associated fair value changes and revaluation surplus recorded in prior periods, taxes payable or receivable in connection with those transactions and amounts that are recorded directly in equity, such as ownership changes. We use FFO to assess our performance as an asset manager and as an investor in our assets. FFO from our Asset Management segment includes fees, net of the associated costs, that we earn from managing capital in our listed partnerships, private funds and public securities accounts. We are also eligible to earn incentive payments in the form of incentive distributions, performance fees or carried interest. As an investor in our assets, our FFO represents the company’s share of revenues less costs incurred within our operations, which include interest expenses and other costs. Specifically, it includes the impact of contracts that we enter into to generate revenues, including power sales agreements, contracts that our operating businesses enter into such as leases and take or pay contracts and sales of inventory. FFO includes the impact of changes in leverage or the cost of that financial leverage and other costs incurred to operate our business. We use realized disposition gains and losses within FFO in order to provide additional insight regarding the performance of investments on a cumulative realized basis, including any unrealized fair value adjustments that were recorded in equity and not otherwise reflected in current period FFO, and believe it is useful to investors to better understand variances between reporting periods. We exclude depreciation and amortization from FFO as we believe that the value of most of our assets typically increases over time, provided we make the necessary maintenance expenditures, the timing and magnitude of which may differ from the amount of depreciation recorded in any given period. In addition, the depreciated cost base of our assets is reflected in the ultimate realized disposition gain or loss on disposal. As noted above, unrealized fair value changes are excluded from FFO until the period in which the asset is sold. We also exclude deferred income taxes from FFO because the vast majority of the company’s deferred income tax assets and liabilities are a result of the revaluation of our assets under IFRS. Our definition of FFO may differ from the definition used by other organizations, as well as the definition of FFO used by the Real Property Association of Canada (“REALPAC”) and the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”), in part because the NAREIT definition is based on U.S. GAAP, as opposed to IFRS. The key differences between our definition of FFO and the determination of FFO by REALPAC and/or NAREIT are that we include the following: realized disposition gains or losses and cash taxes payable or receivable on those gains or losses, if any; foreign exchange gains or losses on monetary items not forming part of our net investment in foreign operations; and foreign exchange gains or losses on the sale of an investment in a foreign operation. We do not use FFO as a measure of cash generated from our operations. We illustrate how we derive FFO for each operating segment and reconcile total FFO to net income in Note 3(c)(v) of the consolidated financial statements. Segment Balance Sheet Information We use common equity by segment as our measure of segment assets when reviewing our deconsolidated balance sheet because it is utilized by our Chief Operating Decision Maker for capital allocation decisions. Segment Allocation and Measurement Segment measures include amounts earned from consolidated entities that are eliminated on consolidation. The principal adjustment is to include asset management revenues charged to consolidated entities as revenues within the company’s Asset Management segment with the corresponding expense recorded as corporate costs within the relevant segment. These amounts are based on the in-place terms of the asset management contracts between the consolidated entities. Inter-segment revenues are determined under terms that approximate market value. The company allocates the costs of shared functions that would otherwise be included within its Corporate Activities segment, such as information technology and internal audit, pursuant to formal policies. c) Reportable Segment Measures AS AT AND FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) Asset Real Estate Renewable Infrastructure Private Equity Residential Development Corporate Total Note External revenues $ 271 $ 10,442 $ 3,959 $ 7,091 $ 43,099 $ 2,456 $ 508 $ 67,826 Inter-segment and other revenues 1 2,343 33 15 2 479 — (49 ) 2,823 i Segmented revenues 2,614 10,475 3,974 7,093 43,578 2,456 459 70,649 FFO from equity accounted investments 1 43 1,049 74 1,100 320 41 14 2,641 ii Interest expense — (3,469 ) (923 ) (937 ) (1,536 ) (66 ) (349 ) (7,280 ) iii Current income taxes — (165 ) (73 ) (255 ) (326 ) (37 ) (114 ) (970 ) iv Funds from operations 1 1,597 1,185 333 464 844 125 (359 ) 4,189 v Common equity 4,927 18,781 5,320 2,792 4,086 2,859 (7,897 ) 30,868 Equity accounted investments 4,599 22,314 1,154 8,972 2,596 382 681 40,698 Additions to non-current assets 2 4,654 17,915 2,207 17,352 19,825 88 617 62,658 1. We equity account for our investment in Oaktree and include our share of the FFO and FFO from equity accounted investments at 61%. However, for segment reporting, Oaktree’s revenue is shown on a 100% basis. For the year ended December 31, 2019, $231 million of Oaktree’s revenues was included in our Asset Management segment revenue. 2. Includes equity accounted investments, investment properties, property, plant and equipment, sustainable resources, intangible assets and goodwill. Excludes non-current assets recognized on adoption of IFRS 16. AS AT AND FOR THE YEAR ENDED DEC. 31, 2018 Asset Real Estate Renewable Infrastructure Private Equity Residential Development Corporate Total Note External revenues $ 187 $ 8,075 $ 3,751 $ 5,013 $ 36,828 $ 2,683 $ 234 $ 56,771 Inter-segment revenues 1,760 41 11 5 442 — (46 ) 2,213 i Segmented revenues 1,947 8,116 3,762 5,018 37,270 2,683 188 58,984 FFO from equity accounted investments — 945 46 846 526 15 (6 ) 2,372 ii Interest expense — (2,464 ) (930 ) (586 ) (520 ) (57 ) (323 ) (4,880 ) iii Current income taxes — (213 ) (32 ) (326 ) (186 ) (45 ) (59 ) (861 ) iv Funds from operations 1,317 1,786 328 602 795 49 (476 ) 4,401 v Common equity 328 17,423 5,302 2,887 4,279 2,606 (7,178 ) 25,647 Equity accounted investments — 22,949 685 7,636 1,943 395 39 33,647 Additions to non-current assets 1 — 51,111 3,729 10,524 10,139 124 190 75,817 1. Includes equity accounted investments, investment properties, property, plant and equipment, sustainable resources, intangible assets and goodwill. i. Inter-Segment Revenues For the year ended December 31, 2019 , the adjustment to external revenues when determining segmented revenues consists of asset management revenues earned from consolidated entities and our investment in Oaktree totaling $2.3 billion ( 2018 – $1.8 billion ), revenues earned on construction projects between consolidated entities totaling $450 million ( 2018 – $430 million ), and interest income and other revenues totaling $30 million ( 2018 – $23 million ), which were eliminated on consolidation to arrive at the company’s consolidated revenues. ii. FFO from Equity Accounted Investments The company determines FFO from its equity accounted investments by applying the same methodology utilized in adjusting net income of consolidated entities. The following table reconciles the company’s consolidated equity accounted income to FFO from equity accounted investments: FOR THE YEARS ENDED DEC. 31 2019 2018 Consolidated equity accounted income $ 2,498 $ 1,088 Non-FFO items from equity accounted investments 1 143 1,284 FFO from equity accounted investments $ 2,641 $ 2,372 1. Adjustment to back out non-FFO expenses (income) that are included in consolidated equity accounted income including depreciation and amortization, deferred taxes and fair value changes from equity accounted investments. iii. Interest Expense For the year ended December 31, 2019 , the adjustment to interest expense consists of interest on loans between consolidated entities totaling $53 million ( 2018 – $26 million ) that is eliminated on consolidation, along with the associated revenue. iv. Current Income Taxes Current income taxes are included in FFO but are aggregated with deferred income taxes in income tax expense on the company’s Consolidated Statements of Operations. The following table reconciles consolidated income taxes to current and deferred income taxes: FOR THE YEARS ENDED DEC. 31 2019 2018 Current income tax expense $ (970 ) $ (861 ) Deferred income tax recovery 475 1,109 Income tax (expense) recovery $ (495 ) $ 248 v. Reconciliation of Net Income to Total FFO The following table reconciles net income to total FFO: FOR THE YEARS ENDED DEC. 31 Note 2019 2018 Net income $ 5,354 $ 7,488 Realized disposition gains in fair value changes or equity vi 621 1,445 Non-controlling interests in FFO (7,161 ) (6,015 ) Financial statement components not included in FFO Equity accounted fair value changes and other non-FFO items 143 1,284 Fair value changes 831 (1,794 ) Depreciation and amortization 4,876 3,102 Deferred income taxes (475 ) (1,109 ) Total FFO $ 4,189 $ 4,401 vi. Realized Disposition Gains Realized disposition gains include gains and losses recorded in net income arising from transactions during the current period, adjusted to include fair value changes and revaluation surplus recorded in prior periods in connection with the assets sold. Realized disposition gains also include amounts that are recorded directly in equity as changes in ownership, as opposed to net income, because they result from a change in ownership of a consolidated entity. The realized disposition gains recorded in fair value changes, revaluation surplus or directly in equity were $621 million for the year ended December 31, 2019 ( 2018 – $1.4 billion ), of which $284 million relates to prior periods ( 2018 – $1.1 billion ), $258 million has been recorded directly in equity as changes in ownership (2018 – $242 million ) and $79 million has been recorded in fair value changes (2018 – $95 million ). d) Geographic Allocation The company’s revenues by location of operations are as follows: FOR THE YEARS ENDED DEC. 31 2019 2018 United States $ 16,584 $ 9,756 Canada 6,202 6,422 United Kingdom 21,847 23,684 Europe 6,285 3,275 Australia 5,522 4,968 Brazil 4,099 4,048 Asia 2,402 1,643 Colombia 2,095 1,594 Other 2,790 1,381 $ 67,826 $ 56,771 The company’s consolidated assets by location are as follows: AS AT DEC. 31 2019 2018 United States $ 149,687 $ 128,808 Canada 35,840 27,850 United Kingdom 30,184 23,093 Brazil 24,354 22,539 Europe 19,404 13,250 Australia 22,971 13,309 Asia 17,468 10,479 Colombia 10,819 9,862 Other 13,242 7,091 $ 323,969 $ 256,281

SUBSIDIARIES

SUBSIDIARIES	12 Months Ended
SUBSIDIARIES	Dec. 31, 2019
Disclosure of subsidiaries [abstract]
SUBSIDIARIES	SUBSIDIARIES The following table presents the details of the company’s subsidiaries with significant non-controlling interests: Jurisdiction of Formation Ownership Interest Held by Non-Controlling Interests 1, 2 AS AT DEC. 31 2019 2018 Brookfield Property Partners L.P. (“BPY”) Bermuda 44.8 % 46.2 % Brookfield Renewable Partners L.P. (“BEP”) Bermuda 39.5 % 39.5 % Brookfield Infrastructure Partners L.P. (“BIP”) Bermuda 70.4 % 70.5 % Brookfield Business Partners L.P. (“BBU”) Bermuda 37.3 % 32.0 % 1. Control and associated voting rights of the limited partnerships (BPY, BEP, BIP and BBU) resides with their respective general partners which are wholly owned subsidiaries of the company. The company’s general partner interest is entitled to earn base management fees and incentive payments in the form of incentive distribution rights or performance fees. 2. The company’s ownership interest in BPY, BEP, BIP and BBU includes a combination of redemption-exchange units (REUs), Class A limited partnership units, special limited partnership units, general partnership units and units or shares that are exchangeable for units in our listed partnerships, in each subsidiary, where applicable. Each of BPY, BEP, BIP and BBU’s partnership capital includes its Class A limited partnership units whereas REUs and general partnership units are considered non-controlling interests for the respective partnerships. REUs share the same economic attributes in all respects except for the redemption right attached thereto. The REUs and general partnership units participate in earnings and distributions on a per unit basis equivalent to the per unit participation of the Class A limited partnership units of the subsidiary. The table below presents the exchanges on which the company’s subsidiaries with significant non-controlling interests were publicly listed as of December 31, 2019 : TSX NYSE Nasdaq BPY BPY.UN N/A BPY BEP BEP.UN BEP N/A BIP BIP.UN BIP N/A BBU BBU.UN BBU N/A The following table outlines the composition of accumulated non-controlling interests presented within the company’s consolidated financial statements: AS AT DEC. 31 2019 2018 BPY $ 29,165 $ 31,580 BEP 13,321 12,457 BIP 20,036 12,752 BBU 8,664 4,477 Individually immaterial subsidiaries with non-controlling interests 10,647 6,069 $ 81,833 $ 67,335 All publicly listed entities are subject to independent governance. Accordingly, the company has no direct access to the assets of these subsidiaries. Summarized financial information with respect to the company’s subsidiaries with significant non-controlling interests is set out below. The summarized financial information represents amounts before intra-group eliminations: BPY BEP BIP BBU AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Current assets $ 3,289 $ 7,114 $ 1,474 $ 1,961 $ 5,841 $ 2,276 $ 12,795 $ 9,781 Non-current assets 108,354 115,406 34,217 32,142 50,467 34,304 38,956 17,537 Current liabilities (12,466 ) (10,306 ) (1,678 ) (1,689 ) (5,439 ) (2,417 ) (11,024 ) (9,016 ) Non-current liabilities (54,242 ) (65,474 ) (15,882 ) (15,208 ) (28,692 ) (19,495 ) (29,674 ) (11,808 ) Non-controlling interests (29,165 ) (31,580 ) (13,321 ) (12,457 ) (20,036 ) (12,752 ) (8,664 ) (4,477 ) Equity attributable to Brookfield $ 15,770 $ 15,160 $ 4,810 $ 4,749 $ 2,141 $ 1,916 $ 2,389 $ 2,017 Revenues $ 8,203 $ 7,239 $ 2,980 $ 2,982 $ 6,597 $ 4,652 $ 43,032 $ 37,168 Net income (loss) attributable to: Non-controlling interests $ 2,091 $ 2,356 $ 348 $ 401 $ 636 $ 724 $ 353 $ 1,106 Shareholders 1,066 1,298 (75 ) 2 14 82 81 97 $ 3,157 $ 3,654 $ 273 $ 403 $ 650 $ 806 $ 434 $ 1,203 Other comprehensive income (loss) attributable to: Non-controlling interests $ 234 $ (122 ) $ 1,179 $ 2,292 $ 486 $ (859 ) $ (159 ) $ (292 ) Shareholders 89 (294 ) 546 972 104 (86 ) (39 ) (96 ) $ 323 $ (416 ) $ 1,725 $ 3,264 $ 590 $ (945 ) $ (198 ) $ (388 ) The summarized cash flows of the company’s subsidiaries with material non-controlling interests are as follows: BPY BEP BIP BBU FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Cash flows from (used in): Operating activities $ 624 $ 1,357 $ 1,212 $ 1,103 $ 2,143 $ 1,362 $ 2,163 $ 1,341 Financing activities (892 ) 8,873 (1,010 ) (1,080 ) 9,542 4,418 15,925 3,561 Investing activities (1,611 ) (8,406 ) (251 ) (624 ) (11,372 ) (5,564 ) (17,939 ) (3,999 ) Distributions paid to non-controlling interests in common equity $ 576 $ 427 $ 254 $ 244 $ 628 $ 558 $ 13 $ 11 SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY Brookfield Finance Inc. (“BFI”) is an indirect 100% owned subsidiary of the Corporation that may offer and sell debt securities. Any debt securities issued by BFI are fully and unconditionally guaranteed by the Corporation. BFI issued $500 million of 4.25% notes due in 2026 on June 2, 2016, $550 million and $350 million of 4.70% notes due in 2047 on September 14, 2017 and January 17, 2018, respectively, $650 million of 3.90% notes due in 2028 on January 17, 2018 and $1 billion of 4.85% notes due in 2029 on January 29, 2019. Brookfield Finance LLC (“BFL”) is a Delaware limited liability company formed on February 6, 2017 and an indirect 100% owned subsidiary of the Corporation. BFL is a “finance subsidiary,” as defined in Rule 3-10 of Regulation S-X. Any debt securities issued by BFL are fully and unconditionally guaranteed by the Corporation. On March 10, 2017, BFL issued $750 million of 4.00% notes due in 2024. On December 31, 2018, as part of an internal reorganization, the 2024 notes were transferred to BFI. BFL has no independent activities, assets or operations other than in connection with any debt securities it may issue. Subsequent to year-end, the Corporation announced a public offering of $600 million of notes due 2050. The notes were issued by BFL and have a coupon of 3.45% . Brookfield Investments Corporation (“BIC”) is an investment company that holds investments in the real estate and forest products sectors, as well as a portfolio of preferred shares issued by the Corporation’s subsidiaries. The Corporation provided a full and unconditional guarantee of the Class 1 Senior Preferred Shares, Series A issued by BIC. As at December 31, 2019, C $42 million of these senior preferred shares were held by third-party shareholders and are retractable at the option of the holder. The following tables contain summarized financial information of the Corporation, BFI, BFL, BIC and non-guarantor subsidiaries: AS AT AND FOR THE YEAR ENDED DEC. 31, 2019 The Corporation 1 BFI BFL BIC Subsidiaries of the Corporation 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 104 $ 148 $ — $ 105 $ 73,310 $ (5,841 ) $ 67,826 Net income attributable to shareholders 2,807 40 — 85 3,493 (3,618 ) 2,807 Total assets 70,976 5,389 — 3,520 331,698 (87,614 ) 323,969 Total liabilities 35,963 3,994 — 2,239 195,586 (30,659 ) 207,123 AS AT AND FOR THE YEAR ENDED DEC. 31, 2018 The Corporation 1 BFI BFL BIC Subsidiaries of the Corporation 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 810 $ 43 $ 53 $ 163 $ 62,984 $ (7,282 ) $ 56,771 Net income attributable to shareholders 3,584 (46 ) (1 ) 145 4,506 (4,604 ) 3,584 Total assets 59,105 4,330 13 3,296 271,534 (81,997 ) 256,281 Total liabilities 29,290 2,909 6 2,198 154,458 (29,730 ) 159,131 1. This column accounts for investments in all subsidiaries of the Corporation under the equity method. 2. This column accounts for investments in all subsidiaries of the Corporation other than BFI, BFL and BIC on a combined basis. 3. This column includes the necessary amounts to present the company on a consolidated basis.

ACQUISITIONS OF CONSOLIDATED EN

ACQUISITIONS OF CONSOLIDATED ENTITIES	12 Months Ended
ACQUISITIONS OF CONSOLIDATED ENTITIES	Dec. 31, 2019
Disclosure of detailed information about business combination [abstract]
ACQUISITIONS OF CONSOLIDATED ENTITIES	ACQUISITIONS OF CONSOLIDATED ENTITIES a) Completed During 2019 The following table summarizes the balance sheet impact as a result of business combinations that occurred in the year ended December 31, 2019 . The valuations of the assets acquired are still under evaluation and as such the business combinations have been accounted for on a provisional basis: (MILLIONS) Private Equity Infrastructure Real Estate Renewable Power and Other Total Cash and cash equivalents $ 344 $ 94 $ 31 $ 6 $ 475 Accounts receivable and other 6,706 553 114 110 7,483 Assets classified as held for sale — 1,584 — — 1,584 Inventory 2,230 74 46 13 2,363 Equity accounted investments 847 48 — — 895 Investment properties — 211 3,458 — 3,669 Property, plant and equipment 6,650 8,710 785 1,308 17,453 Intangible assets 7,057 3,248 28 — 10,333 Goodwill 3,479 2,644 2 — 6,125 Deferred income tax assets 363 46 — — 409 Total assets 27,676 17,212 4,464 1,437 50,789 Less: Accounts payable and other (5,025 ) (2,425 ) (2,394 ) (101 ) (9,945 ) Non-recourse borrowings (1,084 ) (1,980 ) (537 ) (319 ) (3,920 ) Deferred income tax liabilities (1,142 ) (1,248 ) — (36 ) (2,426 ) Non-controlling interests 1 (1,749 ) (828 ) (88 ) — (2,665 ) (9,000 ) (6,481 ) (3,019 ) (456 ) (18,956 ) Net assets acquired $ 18,676 $ 10,731 $ 1,445 $ 981 $ 31,833 Consideration 2 $ 18,672 $ 10,731 $ 1,445 $ 981 $ 31,829 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2. Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. Brookfield recorded $7.6 billion of revenue and $635 million of net losses in 2019 from the acquired operations as a result of the acquisitions made during the year. If the acquisitions had occurred at the beginning of the year, they would have contributed $14.7 billion and $189 million to total revenue and net income, respectively. The difference in our net losses since acquisition date compared to net income had we held our investments since January 1 primarily relate to the timing of acquisitions during the year as those with large contributors to net income were purchased in late 2019. In addition, our post-acquisition margins were reduced from the step-up in inventory costs resulting from purchase price allocations as well as restructuring costs in certain of our acquisitions. The following table summarizes the balance sheet impact as a result of significant business combinations that occurred in 2019. The valuations of the assets acquired are still under evaluation and as such the business combinations have been accounted for on a provisional basis. Private Equity Infrastructure Real Estate Renewable Power (MILLIONS) Clarios Healthscope Genworth East-West Pipeline Genesee & Wyoming NorthRiver Aveo Group Arcadia Cash and cash equivalents $ 11 $ 25 $ 253 $ — $ 67 $ 2 $ 27 $ 3 Accounts receivable and other 1,503 196 4,796 66 461 — 92 31 Assets classified as held for sale — — — — 1,584 — — — Inventory 1,775 41 — 28 43 3 43 7 Equity accounted investments 838 9 — — 48 — — — Investment properties — — — — — — 3,458 — Property, plant and equipment 3,582 2,590 10 2,134 5,283 1,198 95 759 Intangible assets 6,420 280 243 295 1,992 74 2 — Goodwill 1,894 1,548 — — 2,042 218 — — Deferred income tax assets 181 136 — — 5 41 — — Total assets 16,204 4,825 5,302 2,523 11,525 1,536 3,717 800 Less: Accounts payable and other (1,998 ) (691 ) (1,954 ) (66 ) (2,071 ) (218 ) (2,368 ) (65 ) Non-recourse borrowings — — (342 ) — (1,567 ) — (537 ) — Deferred income tax liabilities (967 ) (79 ) (49 ) — (1,111 ) — — — Non-controlling interests 1 (469 ) — (1,279 ) (578 ) (250 ) — (88 ) — (3,434 ) (770 ) (3,624 ) (644 ) (4,999 ) (218 ) (2,993 ) (65 ) Net assets acquired $ 12,770 $ 4,055 $ 1,678 $ 1,879 $ 6,526 $ 1,318 $ 724 $ 735 Consideration 2 $ 12,770 $ 4,055 $ 1,674 $ 1,879 $ 6,526 $ 1,318 $ 724 $ 735 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2. Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. Private Equity On April 30, 2019, a subsidiary of the company, along with institutional partners, acquired a 100% interest in Clarios, a global automotive battery business, for total consideration of $12.8 billion . Total consideration paid was funded with $2.9 billion of cash on hand, with $9.9 billion funded through non-recourse borrowings raised concurrently on closing. The acquisition resulted in recognition of $1.9 billion of goodwill, which is largely reflective of potential to innovate and grow the business. Approximately $20 million of the goodwill recognized is deductible for tax purposes. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $8.3 billion and $74 million , respectively. On June 6, 2019, a subsidiary of the company, along with institutional partners, acquired a 100% interest in Healthscope Limited, an Australian private healthcare provider, for a total consideration of $4.1 billion . Total consideration paid was funded with $1.2 billion of cash on hand, with $2.9 billion funded through non-recourse borrowings raised concurrently on closing. The acquisition resulted in recognition of $1.5 billion of goodwill, which is largely reflective of potential growth from integration of the operations. None of the goodwill recognized is deductible for tax purposes. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $1.6 billion and $81 million , respectively. On December 12, 2019, a subsidiary of the company, along with institutional partners, acquired a 57% interest in Genworth, a Canadian mortgage insurance services business, for total consideration of $1.7 billion , which was funded with cash on hand. The acquisition generated a bargain purchase gain of $4 million . Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $677 million and $321 million , respectively. Infrastructure On March 22, 2019, a subsidiary of the company, along with institutional partners, acquired a 100% interest in East-West Pipeline Limited, an Indian natural gas pipeline business, for total consideration of $1.9 billion . Consideration paid was funded with $959 million of cash on hand and the remainder funded through non-recourse borrowings raised concurrently on closing. Total revenues and net loss that would have been recorded if t he transaction had occurred at the beginning of the year are $359 million and $65 million , respectively. On December 30, 2019, a subsidiary of the company, along with institutional partners, acquired a 100% interest in Genesee & Wyoming Inc., a short-haul rail operator in North America , for a total consideration of $6.5 billion . Consideration paid funded with $5.4 billion of cash on hand and the remainder funded through non-recourse borrowings raised concurrently on closing. The acquisition resulted in recognition of $2.0 billion of goodwill, which is largely reflective of potential growth prospects and strong market position. None of the goodwill recognized is deductible for tax purposes. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $2.3 billion and $235 million , respectively. On December 31, 2019, a subsidiary of the company, along with institutional partners, acquired a 100% interest in NorthRiver Midstream Inc., the federally regulated portion of Enbridge Inc.’s Canadian natural gas midstream business to be operated alongside the provincial assets acquired in 2018, for a total consideration of $1.3 billion . Consideration paid funded with $861 million of cash on hand and the remainder funded through non-recourse borrowings raised concurrently on closing. The acquisition resulted in recognition of $218 million of goodwill, which is largely reflective of potential growth prospects and strong market position. The goodwill recognized is deductible for tax purposes. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $271 million and $121 million , respectively. Real Estate On November 29, 2019, a subsidiary of the company, along with institutional partners, acquired an 84% interest in Aveo Group, a real estate company that develops, owns and operates a portfolio of retirement homes in Australia, for total consideration of $724 million . Consideration paid funded with $658 million of cash on hand and the remainder funded through non-recourse borrowings raised concurrently on closing. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $174 million and $4 million , respectively. Renewable Power On September 26, 2019, a subsidiary of the company acquired a 100% interest in Arcadia, a distributed generation portfolio of renewable energy facilities in the United States, for total consideration of $735 million funded by non-recourse borrowings raised concurrently on closing. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $67 million and $22 million , respectively. b) Completed During 2018 The following table summarizes the balance sheet impact as a result of business combinations that occurred in 2018 . No material changes were made to those allocations disclosed in the 2018 consolidated financial statements: (MILLIONS) Real Estate Infrastructure Private Equity Renewable Power and Other Total Cash and cash equivalents $ 1,056 $ 71 $ 658 $ 388 $ 2,173 Accounts receivable and other 2,247 511 2,267 623 5,648 Inventory 150 23 686 5 864 Equity accounted investments 12,379 15 329 29 12,752 Investment properties 33,024 — — — 33,024 Property, plant and equipment 1,748 2,945 4,913 2,970 12,576 Intangible assets 54 3,208 2,942 386 6,590 Goodwill 96 2,905 971 186 4,158 Deferred income tax assets 220 — 38 582 840 Total assets 50,974 9,678 12,804 5,169 78,625 Less: Accounts payable and other (2,177 ) (591 ) (3,654 ) (715 ) (7,137 ) Non-recourse borrowings (18,218 ) (1,484 ) (3,668 ) (2,023 ) (25,393 ) Deferred income tax liabilities (58 ) (839 ) (157 ) (210 ) (1,264 ) Non-controlling interests 1 (2,603 ) (544 ) (515 ) (22 ) (3,684 ) (23,056 ) (3,458 ) (7,994 ) (2,970 ) (37,478 ) Net assets acquired $ 27,918 $ 6,220 $ 4,810 $ 2,199 $ 41,147 Consideration 2 $ 26,759 $ 6,220 $ 4,810 $ 1,807 $ 39,596 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2. Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. Brookfield recorded $5.1 billion of revenue and $711 million of net income in 2018 from the acquired operations as a result of the acquisitions made during the year. If the acquisitions had occurred at the beginning of the year, they would have contributed $12.6 billion and $1.8 billion to total revenue and net income, respectively. The following table summarizes the balance sheet impact as a result of significant business combinations that occurred in 2018. No material changes were made to those allocations disclosed in the 2018 consolidated financial statements . Real Estate Private Equity Infrastructure Renewable Power (MILLIONS) 666 Fifth GGP Forest City Westinghouse NorthRiver Enercare Evoque Saeta Yield Cash and cash equivalents $ — $ 424 $ 451 $ 250 $ 10 $ 24 $ — $ 187 Accounts receivable and other 11 592 960 1,854 55 187 3 216 Inventory — — 89 626 — — — — Equity accounted investments — 10,829 1,467 7 — — — 14 Investment properties 1,292 17,991 9,397 — — — — — Property, plant and equipment — 56 — 931 1,442 669 440 2,724 Intangible assets — — — 2,683 157 1,863 221 258 Goodwill — — — 213 524 1,260 463 115 Deferred income tax assets — — — 7 — 23 — — Total assets 1,303 29,892 12,364 6,571 2,188 4,026 1,127 3,514 Less: Accounts payable and other (4 ) (691 ) (1,119 ) (2,645 ) (46 ) (235 ) (24 ) (320 ) Non-recourse borrowings — (13,147 ) (3,664 ) (3 ) — (877 ) — (1,906 ) Deferred income tax liabilities — (11 ) — (81 ) (186 ) (472 ) — (174 ) Non-controlling interests 1 — (1,882 ) (633 ) (7 ) — — — — (4 ) (15,731 ) (5,416 ) (2,736 ) (232 ) (1,584 ) (24 ) (2,400 ) Net assets acquired $ 1,299 $ 14,161 $ 6,948 $ 3,835 $ 1,956 $ 2,442 $ 1,103 $ 1,114 Consideration 2 $ 1,299 $ 13,240 $ 6,948 $ 3,835 $ 1,956 $ 2,442 $ 1,103 $ 1,114 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2. Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. On June 12, 2018, a subsidiary of the company, along with institutional investors, acquired a 95% interest in Saeta Yield, S.A. (“Saeta Yield”) for total cash consideration of $1.1 billion , funded through an equity issuance at the subsidiary, amounts drawn on a non-recourse credit facility and available cash on hand. The acquisition resulted in $115 million of goodwill due to the recognition of a deferred tax liability because the tax bases of the net assets are lower than their acquisition date fair value. None of the goodwill recognized is deductible for income tax purposes. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $407 million and $63 million , respectively. On August 1, 2018, a subsidiary of the company, together with institutional investors, acquired a 100% interest in Westinghouse Electric Company (“Westinghouse”). Total consideration paid was $3.8 billion in cash, with $886 million provided by the subsidiary and its partners and the balance funded through asset level debt raised concurrently on closing. On acquisition, goodwill of $213 million was recognized, which represents future growth the subsidiary expects to receive from the integration of Westinghouse’s operations; this goodwill is not deductible for income tax purposes. Total revenues and net losses that would have been recorded if the transaction had occurred at the beginning of the year are $3.9 billion and $239 million , respectively. On August 3, 2018, a subsidiary of the company, together with institutional investors, acquired a 100% leasehold interest in 666 Fifth Avenue, a commercial office asset in New York, for total consideration of $1.3 billion . Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $84 million and $85 million , respectively. On August 28, 2018, a subsidiary of the company acquired all outstanding shares of GGP other than those shares already held by the subsidiary for total consideration of $13.2 billion , plus the payment of a pre-closing dividend of $9.05 billion . The pre-closing dividend was funded by financing activity and proceeds from the sales of partial interests in certain properties within GGP. • A new entity, Brookfield Property REIT (“BPR”), was formed to hold the GGP assets; BPR issued 161 million shares to GGP shareholders as consideration. BPR shares, which are structured to provide an economic return equivalent to that of BPY units, are presented as non-controlling interests within equity. • The acquisition was accounted for as a business combination achieved in stages. Our existing equity interest in GGP was remeasured to its fair value of $7.8 billion immediately prior to the completion of the transaction based on our interest in the fair value of GGP’s identifiable net assets and liabilities. As a result of this remeasurement, a loss of approximately $502 million was recognized in fair value changes. • Total consideration of $13.2 billion is made up of our existing equity investment of $7.8 billion , new equity, in the form of 88 million BPY LP units and 161 million BPR Class A shares, issued to GGP’s shareholders totaling $5.2 billion , cash consideration of $200 million and share-based payment awards to GGP employees with a fair value of $28 million . On acquisition, we recognized a bargain purchase gain of $921 million in fair value changes as the agreed upon transaction price and the fair value of the consideration transferred was less than the aggregate fair value of the assets acquired net of the liabilities assumed. • Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $1.8 billion and $1.1 billion , respectively. On October 1, 2018, a subsidiary of the company, together with institutional investors, acquired a 100% interest in NorthRiver Midstream Inc. (“NorthRiver”), a western Canadian natural gas gathering and processing business, for total cash consideration of $2.0 billion . The acquisition was funded through cash on hand and asset level debt raised concurrently on closing. On acquisition, goodwill of $524 million was recognized, which represents the potential for obtaining long-term contracts for the business’ unutilized capacity and production growth in certain locations. None of the goodwill acquired is deductible for tax purposes. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $246 million and $16 million , respectively. On October 16, 2018, a subsidiary of the company, together with institutional investors, acquired a 100% interest in Enercare Inc. (“Enercare”), a North American residential energy infrastructure business, for total consideration of $2.4 billion . The acquisition was funded through $2.2 billion of cash with the remainder through equity issued to certain Enercare shareholders. On acquisition, goodwill of $1.3 billion was recognized, which represents potential growth prospects and a strong market position as a key provider of residential energy infrastructure in North America. None of the goodwill recognized is deductible for tax purposes. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $949 million and $5 million , respectively. On December 7, 2018, a subsidiary of the company, together with institutional investors, acquired a 100% interest in Forest City Realty Trust, Inc. (“Forest City”) for total cash consideration of $6.9 billion . The acquisition was funded through cash on hand and asset level debt raised concurrently on closing. The non-controlling interest acquired represents equity in partially owned and consolidated operations which are not attributable to Forest City. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $1.1 billion and $381 million , respectively. On December 31, 2018, a subsidiary of the company, together with institutional investors, acquired a 100% interest in Evoque Data Center Solutions (“Evoque”), AT&T’s large-scale data center business, for total cash consideration of $1.1 billion . The acquisition was funded through cash on hand and asset level debt raised concurrently on closing. On acquisition, goodwill of $463 million was recognized, which is largely reflective of potential customer growth, arising from the business’ position as one of the largest colocation providers in the United States and the increasing rate of worldwide data consumption. All of the goodwill is deductible for income tax purposes. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $321 million and $6 million , respectively.

ACCOUNTS RECEIVABLE AND OTHER

ACCOUNTS RECEIVABLE AND OTHER	12 Months Ended
ACCOUNTS RECEIVABLE AND OTHER	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Disclosure of trade and other receivables [text block]	ACCOUNTS RECEIVABLE AND OTHER AS AT DEC. 31 Note 2019 2018 Accounts receivable (a) $ 11,129 $ 9,167 Prepaid expenses and other assets (a) 5,636 5,508 Restricted cash (b) 1,595 1,923 Sustainable resources (c) 109 333 Total $ 18,469 $ 16,931 The current and non-current balances of accounts receivable and other are as follows: AS AT DEC. 31 2019 2018 Current $ 13,862 $ 11,911 Non-current 4,607 5,020 Total $ 18,469 $ 16,931 a) Accounts Receivable and Other Assets Accounts receivable includes contract assets of $682 million (2018 – $641 million ). Contract assets relate primarily to work-in-progress on our long-term construction services contracts for which customers have not yet been billed. b) Restricted Cash Restricted cash primarily relates to the company’s real estate, renewable power and private equity financing arrangements including defeasement of debt obligations, debt service accounts and deposits held by the company’s insurance operations. c) Sustainable Resources Dispositions of $270 million during the year related to the sale of our investment in Acadian, which owned 1.7 million acres of consumable freehold timberlands, representing 40.3 million cubic metres of mature timber and timber available for harvest. Additions of $77 million is attributable to the plantation of soybeans throughout the year. The following table presents the change in the balance of timberlands and other agricultural assets: AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 Balance, beginning of year $ 333 $ 390 Additions 77 21 Dispositions (270 ) — Fair value adjustments 12 42 Decrease due to harvest (39 ) (89 ) Foreign currency changes (4 ) (31 ) Balance, end of year $ 109 $ 333 The carrying values are based on external appraisals completed annually as at December 31. The appraisals utilize a combination of the discounted cash flow and sales comparison approaches to arrive at the estimated value. The significant unobservable inputs (Level 3) included in the discounted cash flow models used when determining the fair value of standing timber and agricultural assets include: Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Key valuation assumptions include a weighted-average discount and terminal capitalization rate of 6.1% ( 2018 – 5.7% ), and terminal valuation dates of up to 21 years ( 2018 – 30 years ). Timber and agricultural asset prices were based on a combination of forward prices available in the market and price forecasts.

INVENTORY

INVENTORY	12 Months Ended
INVENTORY	Dec. 31, 2019
Inventories [Abstract]
Disclosure of inventories [text block]	INVENTORY AS AT DEC. 31 2019 2018 Residential properties under development $ 3,007 $ 2,001 Land held for development 1,781 1,794 Completed residential properties 998 1,398 Industrial products 2,816 914 Other 1 1,670 882 Total $ 10,272 $ 6,989 1. Other includes fuel inventory of $690 million ( 2018 – $585 million ). The current and non-current balances of inventory are as follows: AS AT DEC. 31 2019 2018 Current $ 7,054 $ 4,578 Non-current 3,218 2,411 Total $ 10,272 $ 6,989 During the year ended December 31, 2019 , the company recognized $26.5 billion ( 2018 – $25.7 billion ) of inventory relating to cost of goods sold and a $38 million expense of impaired inventory ( 2018 – $22 million recovery of previously impaired inventory). The carrying amount of inventory pledged as collateral at December 31, 2019 was $4.7 billion ( 2018 – $3.5 billion ).

HELD FOR SALE

HELD FOR SALE	12 Months Ended
HELD FOR SALE	Dec. 31, 2019
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners [abstract]
HELD FOR SALE	HELD FOR SALE The following is a summary of the assets and liabilities classified as held for sale as at December 31, 2019 and 2018: AS AT DEC. 31 Infrastructure Real Estate Renewable Power and Other 2019 Total 2018 Total Assets Cash and cash equivalents $ 42 $ 1 $ 15 $ 58 $ 21 Accounts receivable and other 120 5 49 174 112 Investment properties — 251 — 251 617 Property, plant and equipment 1,307 — 423 1,730 779 Equity accounted investments 190 223 — 413 568 Other long-term assets 872 — — 872 88 Deferred income tax assets 1 — 3 4 — Assets classified as held for sale $ 2,532 $ 480 $ 490 $ 3,502 $ 2,185 Liabilities Accounts payable and other $ 182 $ 2 $ 39 $ 223 $ 193 Non-recourse borrowings of managed entities 774 138 159 1,071 619 Deferred income tax liabilities 364 — 32 396 — Liabilities associated with assets classified as held for sale $ 1,320 $ 140 $ 230 $ 1,690 $ 812 As at December 31, 2019 , assets held for sale within our Infrastructure segment include a Texas electricity transmission business, a Colombian regulated distribution business and the Australian operations of a North American based rail business. Assets held for sale within the company’s Real Estate segment include six triple net lease assets, one office asset and an equity accounted investment in the U.S. Within our Renewable Power segment, we are currently holding for sale solar assets in South Africa and Asia. Our Private Equity segment has assets and liabilities from its cold storage logistics business in their business services segment being classified as held for sale. During the 2019 fiscal year, we disposed of $6.9 billion and $2.8 billion of assets and liabilities held for sale, respectively. The majority of disposals related to our Real Estate segment, with $5.8 billion of assets held for sale and $2.1 billion of liabilities held for sale being disposed of.

EQUITY ACCOUNTED INVESTMENTS

EQUITY ACCOUNTED INVESTMENTS	12 Months Ended
EQUITY ACCOUNTED INVESTMENTS	Dec. 31, 2019
Investments in subsidiaries, joint ventures and associates [abstract]
EQUITY ACCOUNTED INVESTMENTS	EQUITY ACCOUNTED INVESTMENTS The following table presents the ownership interests and carrying values of the company’s investments in associates and joint ventures, all of which are accounted for using the equity method: Ownership Interest 1 Carrying Value AS AT DEC. 31 2019 2018 2019 2018 Oaktree 61 % n/a $ 5,231 $ — Real estate Associates Core office n/a 7 – 23% — 107 LP investments and other 30 – 90% 6 – 90% 307 1,173 Joint ventures Core office 14 – 56% 15 – 56% 9,440 8,258 Core retail 2 12 – 68% 12 – 68% 10,555 11,159 LP investments and other 18 – 80% 12 – 90% 2,012 2,252 22,314 22,949 Infrastructure Associates Utilities 11 – 50% 11 – 50% 962 339 Transport 26 – 58% 26 – 58% 4,033 4,100 Data infrastructure 45 – 50% 45 % 2,920 1,705 Other 22 – 50% 22 – 50% 156 232 Joint ventures Energy 50 % 50 % 716 1,121 Other 50 % 50 % 185 139 8,972 7,636 Private equity Associates Norbord 43 % 42 % 1,185 1,287 Industrial operations 24 – 54% 24 – 50% 854 73 Other 25 – 90% 13 – 90% 557 583 2,596 1,943 Renewable power and other Renewable power associates 14 – 60% 14 – 60% 1,154 685 Other equity accounted investments 2 16 – 85% 18 – 85% 431 434 1,585 1,119 Total $ 40,698 $ 33,647 1. Joint ventures or associates in which the ownership interest is greater than 50% represent investments for which control is either shared or does not exist resulting in the investment being equity accounted. 2. Carrying value of joint ventures in other equity accounted investments is $383 million (2018 – $395 million ). The following tables presents the change in the balance of investments in associates and joint ventures: AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) Oaktree Real Estate Infrastructure Private Equity Renewable Power and Other 2019 Total 2018 Total Balance, beginning of year $ — $ 22,949 $ 7,636 $ 1,943 $ 1,119 $ 33,647 $ 31,994 Net additions (disposals) 5,251 (1,932 ) 1,067 (150 ) 440 4,676 (9,772 ) Acquisitions through business combinations — — 48 847 — 895 12,752 Share of comprehensive income 26 1,986 537 97 169 2,815 1,606 Distributions received (45 ) (810 ) (166 ) (122 ) (157 ) (1,300 ) (1,903 ) Foreign exchange (1 ) 121 (150 ) (19 ) 14 (35 ) (1,030 ) Balance, end of year $ 5,231 $ 22,314 $ 8,972 $ 2,596 $ 1,585 $ 40,698 $ 33,647 Additions, net of disposals, of $4.7 billion in 2019 relate primarily to the acquisition of a $5.3 billion interest in Oaktree. As part of the Oaktree transaction, we received a distribution on closing from Oaktree for $306 million, and recognized deferred consideration of $365 million related to the settlement of certain pre-existing agreements. In addition, we acquired an equity accounted interest in a Brazilian data center operation, a New Zealand integrated data provider and a natural gas transmission business in Mexico within our Infrastructure segment. This was partially offset by the consolidation of a previously equity-accounted portfolio of retail malls within our Real Estate segment. The following table presents current and non-current assets, as well as current and non-current liabilities of the company’s investments in associates and joint ventures: 2019 2018 AS AT DEC. 31 Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Oaktree $ 1,497 $ 16,870 $ 1,172 $ 7,434 $ — $ — $ — $ — Real estate Associates Core office 1 — — — 15 1,998 12 457 LP investments and other 31 955 15 390 86 3,430 56 966 Joint ventures Core office 2,790 36,861 4,824 13,987 1,789 33,245 2,766 13,998 Core retail 992 35,726 615 14,334 832 40,136 734 16,537 LP investments and other 648 9,559 648 5,247 686 11,645 776 5,256 Infrastructure Associates Utilities 869 6,500 687 4,152 289 2,227 325 1,391 Transport 1,199 18,028 1,953 8,359 1,507 15,676 1,871 6,358 Data infrastructure 912 11,636 1,042 4,908 447 6,692 438 2,902 Other 21 374 27 133 118 659 117 117 Joint ventures Energy 154 5,455 249 3,927 165 5,034 144 2,813 Other 35 299 6 93 13 216 5 89 Private equity Associates Norbord 462 3,911 260 1,355 509 4,574 363 1,204 Industrial operations 1,038 743 485 256 38 277 27 136 Other 793 2,362 697 1,562 892 1,910 601 1,004 Renewable power and other Renewable power associates 539 5,967 535 2,530 182 2,845 93 974 Other equity accounted investments 1,022 — 118 113 1,081 53 142 152 $ 13,003 $ 155,246 $ 13,333 $ 68,780 $ 8,649 $ 130,617 $ 8,470 $ 54,354 Certain of the company’s investments in associates are subject to restrictions on the extent to which they can remit funds to the company in the form of cash dividends or repay loans and advances as a result of borrowing arrangements, regulatory restrictions and other contractual requirements. The following table presents total revenues, net income and other comprehensive income (“OCI”) of the company’s investments in associates and joint ventures: 2019 2018 AS AT DEC. 31 Revenue Net Income OCI Revenue Net Income OCI Oaktree $ 295 $ 12 $ (6 ) — $ — $ — Real estate Associates Core office — 1 — 60 71 — Core retail — — — 1,536 (1,013 ) (15 ) LP investments and other 423 126 50 545 301 191 Joint ventures Core office 2,386 1,869 (105 ) 1,559 1,544 (34 ) Core retail 2,430 2,114 — 889 449 — LP investments and other 714 23 — 342 487 (2 ) Infrastructure Associates Utilities 1,046 354 26 541 92 110 Transport 3,277 3 363 3,673 (309 ) (826 ) Data infrastructure 1,447 (38 ) 57 804 64 244 Other 55 (45 ) (210 ) 84 83 363 Joint ventures Energy 696 358 — 695 92 — Other 74 19 — 75 19 (29 ) Private equity Associates Norbord 1,731 (165 ) 13 2,424 248 (21 ) Industrial operations 1,770 122 — 445 62 (21 ) Other 1,007 247 26 1,502 86 (15 ) Renewable power and other Renewable power associates 431 88 242 491 79 469 Other equity accounted investments 400 104 1 133 44 (3 ) $ 18,182 $ 5,192 $ 457 $ 15,798 $ 2,399 $ 411 Certain of the company’s investments are publicly listed entities with active pricing in a liquid market. The fair value based on the publicly listed price of these equity accounted investments in comparison to the company’s carrying value is as follows: 2019 2018 AS AT DEC. 31 Public Price Carrying Value Public Price Carrying Value Norbord $ 930 $ 1,185 $ 925 $ 1,287 Other 38 — 36 — $ 968 $ 1,185 $ 961 $ 1,287

INVESTMENT PROPERTIES

INVESTMENT PROPERTIES	12 Months Ended
INVESTMENT PROPERTIES	Dec. 31, 2019
Investment property [abstract]
INVESTMENT PROPERTIES	INVESTMENT PROPERTIES The following table presents the change in the fair value of the company’s investment properties: AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 Fair value, beginning of year $ 84,309 $ 56,870 Additions 11,638 3,069 Acquisitions through business combinations 3,669 33,024 Increase attributable to adoption of accounting standards 1 928 — Dispositions 2 (6,029 ) (8,555 ) Fair value changes 1,710 1,610 Foreign currency translation and other 461 (1,709 ) Fair value, end of year 3 $ 96,686 $ 84,309 1. The company’s adoption of IFRS 16 resulted in the recognition of ROU investment properties that were previously off-balance sheet items. Refer to Note 2 for additional information. 2. Includes amounts reclassified to held for sale. 3. As at December 31, 2019, the ending balance includes $88.5 billion of investment properties leased to third parties. Also included in the ending balance is approximately $2.6 billion of ROU investment property balances. Investment properties include the company’s office, retail, multifamily, logistics and other properties as well as highest and best-use land within the company’s sustainable resources operations. Additions of $11.6 billion primarily relates to the purchases of investment properties and enhancement of existing assets during the year. Dispositions of $6.0 billion for the year ended December 31, 2019 included the sale of multiple investment properties held within Forest City, several Australian and New York office properties and various multifamily assets. Investment properties generated $5.8 billion ( 2018 – $5.4 billion ) in rental income and incurred $2.4 billion ( 2018 – $2.1 billion ) in direct operating expenses. Most of our investment properties are pledged as collateral for the non-recourse borrowings at their respective properties. The following table presents our investment properties measured at fair value: AS AT DEC. 31 2019 2018 Core office United States $ 15,748 $ 15,237 Canada 4,806 4,245 Australia 2,300 2,391 Europe 2,867 1,331 Brazil 361 329 Core retail 21,561 17,607 LP investments and other LP investments office 8,756 8,438 LP investments retail 2,812 3,414 Logistics 94 183 Multifamily 2,937 4,151 Triple net lease 4,508 5,067 Self-storage 1,007 931 Student housing 2,605 2,417 Manufactured housing 2,446 2,369 Mixed-Use 2,703 12,086 Directly-held real estate properties 19,814 2,750 Other investment properties 1,361 1,363 $ 96,686 $ 84,309 Significant unobservable inputs (Level 3) are utilized when determining the fair value of investment properties. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The company’s investment properties are diversified by asset type, asset class, geography and markets. Therefore, there may be mitigating factors in addition to those noted above such as changes to assumptions that vary in direction and magnitude across different geographies and markets. The following table summarizes the key valuation metrics of the company’s investment properties: 2019 2018 AS AT DEC. 31 Discount Rate Terminal Capitalization Rate Investment Horizon (years) Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 7.0 % 5.6 % 12 6.9 % 5.6 % 12 Canada 5.9 % 5.2 % 10 6.0 % 5.4 % 10 Australia 6.8 % 5.9 % 10 7.0 % 6.2 % 10 Europe 4.6 % 4.1 % 11 n/a n/a n/a Brazil 7.9 % 7.4 % 10 9.6 % 7.7 % 6 Core retail 6.7 % 5.4 % 10 7.1 % 6.0 % 12 LP investments and other LP investments office 10.0 % 7.3 % 7 10.2 % 7.0 % 6 LP investments retail 8.8 % 7.3 % 10 8.9 % 7.8 % 9 Mixed-use 7.6 % 5.4 % 10 7.8 % 5.4 % 10 Logistics 1 5.8 % n/a n/a 9.3 % 8.3 % 10 Multifamily 1 5.1 % n/a n/a 4.8 % n/a n/a Triple net lease 1 6.3 % n/a n/a 6.3 % n/a n/a Self-storage 1 5.6 % n/a n/a 5.7 % n/a n/a Student housing 1 5.8 % n/a n/a 5.6 % n/a n/a Manufactured housing 1 5.5 % n/a n/a 5.4 % n/a n/a Directly-held real estate properties 2 5.2% – 9.2% 6.1 % 19 7.4 % 6.8 % 10 Other investment properties 1 8.9 % n/a n/a 9.3 % n/a n/a 1. Multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. 2. We use either the discounted cash flow or the direct capitalization method when valuing our directly-held real estate properties. The rates presented as the discount rate represent the overall implied capitalization rates for investment properties that are valued using the direct capitalization approach.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
PROPERTY, PLANT AND EQUIPMENT	Dec. 31, 2019
Property, plant and equipment [abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT The company’s property, plant and equipment relates to the operating segments as shown below: Renewable Power (a) Infrastructure (b) Real Estate (c) Private Equity and Other (d) Total AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Costs $ 27,820 $ 26,108 $ 22,454 $ 12,059 $ 9,890 $ 7,713 $ 17,269 $ 9,027 $ 77,433 $ 54,907 Accumulated fair value changes 20,465 18,260 3,777 3,480 1,366 1,045 (643 ) (434 ) 24,965 22,351 Accumulated depreciation (6,690 ) (5,497 ) (2,459 ) (1,889 ) (1,527 ) (1,106 ) (2,458 ) (1,472 ) (13,134 ) (9,964 ) Total 1,2 $ 41,595 $ 38,871 $ 23,772 $ 13,650 $ 9,729 $ 7,652 $ 14,168 $ 7,121 $ 89,264 $ 67,294 1. Includes amounts reclassified to held for sale. 2. As at December 31, 2019, the total includes $3.7 billion of property, plant and equipment leased to third parties as operating leases. Our ROU PP&E assets include $2.2 billion in our Infrastructure segment, $796 million in our Real Estate segment, $1.1 billion in our Renewable Power segment and $1.3 billion in Private Equity and other segments, totaling $5.4 billion of ROU assets. Renewable Power, Infrastructure and Real Estate segments carry property, plant and equipment assets at fair value, classified as Level 3 in the fair value hierarchy due to the use of significant unobservable inputs when determining fair value. Private Equity and other segments carry property, plant and equipment assets at amortized cost. The carrying amount that would have been recognized had our assets been accounted for under the cost model is $51.7 billion . As at December 31, 2019 , $66.3 billion ( 2018 – $50.5 billion ) of property, plant and equipment, at cost, were pledged as collateral for the property debt at their respective properties. a) Renewable Power Our renewable power property, plant and equipment consists of the following: Hydroelectric Wind Solar and Other Total AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Cost, beginning of year $ 13,868 $ 14,667 $ 8,576 $ 7,622 $ 3,664 $ 2,702 $ 26,108 $ 24,991 Changes in basis of accounting 83 — 321 — 3 — 407 — Additions, net of disposals and assets reclassified as held for sale 162 189 (342 ) (21 ) 280 (684 ) 100 (516 ) Acquisitions through business combinations — — 566 1,184 742 1,784 1,308 2,968 Foreign currency translation (14 ) (988 ) (54 ) (209 ) (35 ) (138 ) (103 ) (1,335 ) Cost, end of year 14,099 13,868 9,067 8,576 4,654 3,664 27,820 26,108 Accumulated fair value changes, beginning of year 15,416 12,176 2,079 1,053 765 51 18,260 13,280 Fair value changes 1,369 3,688 669 1,221 195 702 2,233 5,611 Dispositions and assets reclassified as held for sale — — (126 ) — (35 ) — (161 ) — Foreign currency translation 142 (448 ) (34 ) (195 ) 25 12 133 (631 ) Accumulated fair value changes, end of year 16,927 15,416 2,588 2,079 950 765 20,465 18,260 Accumulated depreciation, beginning of year (3,879 ) (3,564 ) (1,358 ) (1,008 ) (260 ) (109 ) (5,497 ) (4,681 ) Depreciation expenses (532 ) (547 ) (502 ) (416 ) (245 ) (192 ) (1,279 ) (1,155 ) Dispositions and assets reclassified as held for sale 7 5 101 6 9 35 117 46 Foreign currency translation (8 ) 227 (22 ) 60 (1 ) 6 (31 ) 293 Accumulated depreciation, end of year (4,412 ) (3,879 ) (1,781 ) (1,358 ) (497 ) (260 ) (6,690 ) (5,497 ) Balance, end of year $ 26,614 $ 25,405 $ 9,874 $ 9,297 $ 5,107 $ 4,169 $ 41,595 $ 38,871 The following table presents our renewable power property, plant and equipment measured at fair value by geography: AS AT DEC. 31 2019 2018 North America $ 25,617 $ 24,274 Colombia 7,353 6,665 Europe 3,770 3,748 Brazil 3,575 3,505 Other 1 1,280 679 $ 41,595 $ 38,871 1. Other refers primarily to China, India and Chile in 2019 and China, India, Chile and Uruguay in 2018. Renewable power assets are accounted for under the revaluation model and the most recent date of revaluation was December 31, 2019 . Valuations utilize significant unobservable inputs (Level 3) when determining the fair value of renewable power assets. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows – primarily impacted by future electricity price assumptions • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2019 and 2018 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Discount rate Contracted 4.6 – 4.9% 4.8 – 5.6% 8.2 % 9.0 % 9.0 % 9.6 % 3.5 % 4.0 – 4.3% Uncontracted 6.2 – 6.4% 6.4 – 7.2% 9.5 % 10.3 % 10.3 % 10.9 % 5.3 % 5.8 – 6.1% Terminal capitalization rate 1 6.2 – 6.4% 6.1 – 7.1% n/a n/a 9.8 % 10.4 % n/a n/a Exit date 2040 2039 2047 2047 2039 2038 2034 2033 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. Terminal values are included in the valuation of hydroelectric assets in the United States, Canada and Colombia. For the hydroelectric assets in Brazil, cash flows have been included based on the duration of the authorization or useful life of a concession asset without consideration of potential renewal value. The weighted-average remaining duration as at December 31, 2019 , which includes a one-time 30 -year renewal for applicable hydroelectric assets completed in the current year, is 32 years ( 2018 – 29 years ). Consequently, there is no terminal value attributed to the hydroelectric assets in Brazil. Key assumptions on contracted generation and future power pricing are summarized below: Total Generation Contracted under Power Purchase Agreements Power Prices from Long-Term Power Purchase Agreements (weighted average) Estimates of Future Electricity Prices (weighted average) AS AT DEC. 31, 2019 1 – 10 years 11 – 20 years 1 – 10 years 11 – 20 years 1 – 10 years 11 – 20 years North America (prices in US$/MWh) 47 % 17 % 95 87 62 122 Brazil (prices in R$/MWh) 68 % 33 % 295 407 273 411 Colombia (prices in COP$/MWh) 25 % — % 217,000 272,000 257,000 358,000 Europe (prices in €/MWh) 71 % 13 % 82 102 75 84 The company’s estimate of future renewable power pricing is based on management’s estimate of the cost of securing new energy from renewable sources to meet future demand between 2023 and 2035 (2018 – between 2022 and 2025), which will maintain system reliability and provide adequate levels of reserve generation. b) Infrastructure Our infrastructure property, plant and equipment consists of the following: Utilities Transport Energy Data Infrastructure Sustainable Resources and Other Total AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Cost, beginning of year $ 4,020 $ 3,473 $ 2,485 $ 2,655 $ 4,681 $ 2,630 $ 444 $ — $ 429 $ 495 $ 12,059 $ 9,253 Changes in basis of accounting 21 — 356 — 197 — 633 — — — 1,207 — Additions, net of disposals and assets reclassified as held for sale 7 422 171 73 164 146 (44 ) 4 (25 ) (2 ) 273 643 Acquisitions through business combinations — 394 5,284 — 3,332 2,111 94 440 — — 8,710 2,945 Foreign currency translation 138 (269 ) 9 (243 ) 69 (206 ) 4 — (15 ) (64 ) 205 (782 ) Cost, end of year 4,186 4,020 8,305 2,485 8,443 4,681 1,131 444 389 429 22,454 12,059 Accumulated fair value changes, beginning of year 1,401 1,256 810 873 822 629 — — 447 514 3,480 3,272 Disposition and assets reclassified as held for sale (416 ) — — — — — — — (37 ) — (453 ) — Fair value changes 347 218 45 18 317 224 — — 6 12 715 472 Foreign currency translation 36 (73 ) (6 ) (81 ) 5 (31 ) — — — (79 ) 35 (264 ) Accumulated fair value changes, end of year 1,368 1,401 849 810 1,144 822 — — 416 447 3,777 3,480 Accumulated depreciation, beginning of year (613 ) (509 ) (744 ) (687 ) (492 ) (383 ) — — (40 ) (43 ) (1,889 ) (1,622 ) Depreciation expenses (171 ) (148 ) (178 ) (147 ) (328 ) (134 ) (87 ) — (10 ) (8 ) (774 ) (437 ) Dispositions and assets reclassified as held for sale 204 5 (25 ) 22 46 7 — — 7 4 232 38 Foreign currency translation (16 ) 39 (3 ) 68 (10 ) 18 (1 ) — 2 7 (28 ) 132 Accumulated depreciation, end of year (596 ) (613 ) (950 ) (744 ) (784 ) (492 ) (88 ) — (41 ) (40 ) (2,459 ) (1,889 ) Balance, end of year $ 4,958 $ 4,808 $ 8,204 $ 2,551 $ 8,803 $ 5,011 $ 1,043 $ 444 $ 764 $ 836 $ 23,772 $ 13,650 Infrastructure’s PP&E assets are accounted for under the revaluation model, and the most recent date of revaluation was December 31, 2019 . The company’s utilities assets consist of regulated transmission and regulated distribution networks, which are operated primarily under regulated rate base arrangements. In the company’s transport operations, the PP&E assets consist of railroads, toll roads and ports. PP&E assets in the energy operations are comprised of energy transmission, distribution and storage and district energy assets. Data infrastructure PP&E include mainly telecommunications towers, fiber optic networks and data storage assets. PP&E within our sustainable resource operations include standing timber, land, roads and other agricultural assets. Valuations utilize significant unobservable inputs (Level 3) when determining the fair value of infrastructure’s utilities, transport, energy, data infrastructure and sustainable resources assets. The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization multiple • Increases (decreases) in terminal capitalization multiple increases (decreases) fair value • Increases (decreases) in terminal capitalization multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization multiple • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year Key valuation metrics of the company’s utilities, transport, energy, data infrastructure and sustainable resources assets at the end of 2019 and 2018 are summarized below. Utilities Transport Energy Data Infrastructure Sustainable Resources AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Discount rates 7 – 14% 7 – 14% 9 – 14% 10 – 13% 12 – 15% 12 – 15% 13 – 15% 13 – 15% 5 – 10% 5 – 8% Terminal capitalization multiples 8x – 21x 8x – 22x 9x – 14x 9x – 14x 10x – 17x 10x – 14x 11x – 17x 10x – 11x 5x – 10x 12x – 23x Investment horizon / Exit date (years) 10 – 20 10 – 20 10 – 20 10 – 20 5 – 10 10 10 – 11 10 3 – 21 3 – 30 c) Real Estate Cost Accumulated Fair Value Changes Accumulated Depreciation Total AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Balance, beginning of year $ 7,713 $ 5,854 $ 1,045 $ 798 $ (1,106 ) $ (873 ) $ 7,652 $ 5,779 Changes in basis of accounting 769 — — — — — 769 — Additions/(dispositions) 1 , net of assets reclassified as held for sale 514 352 (2 ) 5 37 43 549 400 Acquisitions through business combinations 785 1,748 — — — — 785 1,748 Foreign currency translation 109 (241 ) — (3 ) (15 ) 27 94 (217 ) Fair value changes — — 323 245 — — 323 245 Depreciation expenses — — — — (443 ) (303 ) (443 ) (303 ) Balance, end of year $ 9,890 $ 7,713 $ 1,366 $ 1,045 $ (1,527 ) $ (1,106 ) $ 9,729 $ 7,652 1. For accumulated depreciation, (additions)/dispositions. The company’s real estate PP&E assets include hospitality assets accounted for under the revaluation model, with the most recent revaluation as at December 31, 2019 . The company determined fair value for these assets by using the depreciated replacement cost method. Valuations utilize significant unobservable inputs (Level 3) when determining the fair value of real estate assets. The significant Level 3 inputs include estimates of assets’ replacement cost and remaining economic life. d) Private Equity and Other Private equity and other PP&E includes assets owned by the company’s private equity and residential development operations. These assets are accounted for under the cost model, which requires the assets to be carried at cost less accumulated depreciation and any accumulated impairment losses. The following table presents the changes to the carrying value of the company’s property, plant and equipment assets included in these operations: Cost Accumulated Impairment Accumulated Depreciation Total AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Balance, beginning of year $ 9,027 $ 4,050 $ (434 ) $ (231 ) $ (1,472 ) $ (1,086 ) $ 7,121 $ 2,733 Changes in basis of accounting 1,032 — — — — — 1,032 — Additions/(dispositions) 1 , net of assets reclassified as held for sale 477 360 — 1 332 72 809 433 Acquisitions through business combinations 6,650 4,915 — — — — 6,650 4,915 Foreign currency translation 83 (298 ) (13 ) 15 (44 ) 78 26 (205 ) Depreciation expenses — — — — (1,274 ) (536 ) (1,274 ) (536 ) Impairment charges — — (196 ) (219 ) — — (196 ) (219 ) Balance, end of year $ 17,269 $ 9,027 $ (643 ) $ (434 ) $ (2,458 ) $ (1,472 ) $ 14,168 $ 7,121 1. For accumulated depreciation, (additions)/dispositions.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
INTANGIBLE ASSETS	Dec. 31, 2019
Intangible assets other than goodwill [abstract]
Disclosure of intangible assets [text block]	INTANGIBLE ASSETS The following table presents the breakdown of, and changes to, the balance of the company’s intangible assets: Cost Accumulated Amortization and Impairment Total AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 Balance, beginning of year $ 20,304 $ 15,251 $ (1,542 ) $ (1,009 ) $ 18,762 $ 14,242 Additions 1 445 288 — — 445 288 Disposals (499 ) (22 ) 132 16 (367 ) (6 ) Acquisitions through business combinations 10,333 6,590 — — 10,333 6,590 Amortization — — (1,141 ) (659 ) (1,141 ) (659 ) Foreign currency translation (351 ) (1,803 ) 29 110 (322 ) (1,693 ) Balance, end of year $ 30,232 $ 20,304 $ (2,522 ) $ (1,542 ) $ 27,710 $ 18,762 1. Includes assets sold and amounts reclassified to held for sale. The following table presents intangible assets by geography: AS AT DEC. 31 2019 2018 Brazil $ 6,413 $ 6,270 United States 6,826 2,986 Canada 2,263 2,051 Mexico 1,200 — Australia 1,985 1,873 United Kingdom 2,637 1,860 Europe 2,090 144 Peru 1,161 1,118 Chile 814 928 India 1,045 843 Other 1,276 689 $ 27,710 $ 18,762 Intangible assets are allocated to the following operating segments: AS AT DEC. 31 Note 2019 2018 Infrastructure (a) $ 14,388 $ 11,641 Private equity (b) 11,650 5,523 Real estate (c) 1,301 1,179 Renewable power and other 371 419 $ 27,710 $ 18,762 a) Infrastructure The intangible assets in our Infrastructure segment are primarily related to: • Concession arrangements of $3.9 billion (2018 – $4.2 billion ) at the company’s Brazilian regulated gas transmission operation that provide the right to charge a tariff over the term of the agreements. The agreements have an expiration date between 2039 and 2041, which is the basis for the company’s determination of its remaining useful life. Upon expiry of the agreements, the asset shall be returned to the government and the concession will be subject to a public bidding process. • Customer relationships, operating network agreements and track access rights of $2.0 billion (2018 – $nil ) in our North American rail operations. These intangible assets are amortized straight-line over 10 to 20 years. • Access agreements of $1.8 billion (2018 – $1.8 billion ) with the users of the company’s Australian regulated terminal which are 100% take-or-pay contracts at a designated tariff rate based on the asset value. The access arrangements have an expiration date of 2051 and the company has an option to extend the arrangement an additional 49 years. The aggregate duration of the arrangements and the extension option represents the remaining useful life. • Concession arrangements totaling $2.7 billion (2018 – $2.9 billion ) relating to the company’s Peruvian, Chilean and Indian toll roads which provide the right to charge a tariff to users of the roads over the terms of the concessions. The Chilean and Peruvian concessions have expiration dates of 2033 and 2043 while the Indian concessions have expiration dates of 2026, 2040 and 2041. The company uses these expiration dates as a basis for determining the assets’ remaining useful lives. • Contractual customer relationships, customer contracts and proprietary technology of $1.4 billion (2018 – $1.4 billion ) at the company’s North American residential energy infrastructure operations. These assets are amortized straight line over 10 to 20 years . • Indefinite life intangible assets of $667 million ( 2018 – $653 million ). The increase from 2018 is primarily attributable to the brand value at our recently acquired North American residential energy infrastructure operations. b) Private Equity The intangible assets in our Private Equity segment are primarily related to: • Customer relationships of $5.3 billion (2018 – $969 million ). The increase from 2018 is primarily attributable to customer relationships acquired through our acquisition of Clarios. The customer relationships acquired is assessed to have a useful life of up to 16 years. • Water and sewage concession agreements, the majority of which are arrangements with municipal governments across Brazil, of $1.8 billion (2018 – $1.8 billion ). The concession agreements provide the company the right to charge fees to users over the terms of the agreements in exchange for water treatment services, ongoing and regular maintenance work on water distribution assets and improvements to the water treatment and distribution systems. The concession agreements have expiration dates that range from 2037 to 2055 which is the basis for the company’s determination of its remaining useful life. Upon expiry of the agreements, the assets shall be returned to the government. • Computer software, patents, trademarks and proprietary technology of $3.2 billion (2018 – $2.1 billion ). The increase from 2018 is primarily attributable to proprietary technology acquired from Clarios. The proprietary technology has the potential to provide competitive advantages and product differentiation and is assessed to have a useful life of 20 years . c) Real Estate The company’s intangible assets in its Real Estate segment are primarily attributable to indefinite life trademarks associated with its hospitality assets, Center Parcs U.K. and Atlantis. The Center Parcs and Atlantis trademark assets have been determined to have an indefinite useful life as the company has the legal right to operate these trademarks exclusively in certain territories and in perpetuity. The business models of Center Parcs and Atlantis are not subject to technological obsolescence or commercial innovations in any material way. Inputs Used to Determine Recoverable Amounts of Intangible Assets We test finite life intangible assets for impairment when an impairment indicator is identified. Indefinite life intangible assets are tested for impairment annually. We use a discounted cash flow valuation to determine the recoverable amount and consider the following significant unobservable inputs as part of our valuation: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year

GOODWILL

GOODWILL	12 Months Ended
GOODWILL	Dec. 31, 2019
Goodwill [Abstract]
Goodwill	The following table presents goodwill by geography: AS AT DEC. 31 2019 2018 Europe $ 3,949 $ 2,131 United States 2,843 1,306 Australia 2,293 876 Canada 2,169 1,923 Colombia 1,428 1,384 Brazil 862 762 Other 1,006 433 $ 14,550 $ 8,815 Goodwill is allocated to the following operating segments: AS AT DEC. 31 Note 2019 2018 Infrastructure (a) $ 6,553 $ 3,859 Private equity (b) 5,218 2,411 Real estate (c) 1,357 1,157 Renewable power (d) 977 941 Asset management 328 328 Other 117 119 Total $ 14,550 $ 8,815 GOODWILL The following table presents the breakdown of, and changes to, the balance of goodwill: Cost Accumulated Impairment Total AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 Balance, beginning of year $ 9,198 $ 5,707 $ (383 ) $ (390 ) $ 8,815 $ 5,317 Acquisitions through business combinations 6,125 4,158 — — 6,125 4,158 Impairment losses — — (453 ) — (453 ) — Foreign currency translation and other 1 89 (667 ) (26 ) 7 63 (660 ) Balance, end of year $ 15,412 $ 9,198 $ (862 ) $ (383 ) $ 14,550 $ 8,815 1. Includes adjustment to goodwill based on final purchase price allocation. The following table presents goodwill by geography: AS AT DEC. 31 2019 2018 Europe $ 3,949 $ 2,131 United States 2,843 1,306 Australia 2,293 876 Canada 2,169 1,923 Colombia 1,428 1,384 Brazil 862 762 Other 1,006 433 $ 14,550 $ 8,815 Goodwill is allocated to the following operating segments: AS AT DEC. 31 Note 2019 2018 Infrastructure (a) $ 6,553 $ 3,859 Private equity (b) 5,218 2,411 Real estate (c) 1,357 1,157 Renewable power (d) 977 941 Asset management 328 328 Other 117 119 Total $ 14,550 $ 8,815 a) Infrastructure Goodwill in our Infrastructure segment increased primarily from acquisitions completed in 2019, including Genesee & Wyoming ( $2.0 billion ), a federally regulated western Canadian natural gas midstream business ( $218 million ) and a U.K. telecommunication business ( $301 million ). In addition to goodwill from acquisitions completed in 2019, we have goodwill attributed to Enercare ( $1.3 billion ), a Brazilian regulated gas transmission operation ( $632 million ), a portfolio of North American data centers ( $486 million ) and a Colombian natural gas distribution operation ( $542 million ). Goodwill attributable to our Brazilian regulated gas transmission arose from the inclusion of a deferred tax liability as the tax bases of the net assets acquired were lower than their fair values. The goodwill is recoverable as long as the tax circumstances that gave rise to the goodwill do not change. To date, no such changes have occurred. The valuation assumptions used to determine the recoverable amount of goodwill has been determined using a discounted cash flow model. The key inputs are discount rates ranging from 12% – 14% , terminal capitalization multiples of 8x – 12x and cash flow periods of 7 – 20 years . The recoverable amounts for the years ended 2019 and 2018 were determined to be in excess of their carrying values. b) Private Equity Goodwill in our Private Equity segment increased primarily from acquisitions completed in 2019, including Healthscope ( $1.5 billion ) and Clarios ( $1.9 billion ). The purchase price allocations for these acquisitions have been completed on a preliminary basis. In addition to goodwill from acquisitions completed in 2019, goodwill is primarily attributable to our construction services business and Teekay Offshore. Goodwill is tested for impairment annually using a discounted cash flow analysis to determine the recoverable amount. During the year, we reported an impairment loss of $417 million as the recoverable amounts at our construction services business and Teekay Offshore did not exceed the carrying amount. The valuation assumptions used to determine the recoverable amount for our construction services business are a discount rate of 9.4% ( 2018 – 10.0% ), terminal growth rate of 1.5% ( 2018 – 2.8% ) and terminal year of 2024 for cash flows included in the assumptions ( 2018 – 2023). c) Real Estate Goodwill in our Real Estate segment is primarily attributable to Center Parcs and IFC Seoul. The recoverable amounts of the two assets for the years ended 2019 and 2018 were determined to be in excess of their carrying values. The valuation assumptions used to determine the recoverable amount for Center Parcs are a discount rate of 7.9% (2018 – 7.4% ) based on a market-based-weighted-average cost of capital, and a long-term growth rate of 2.0% (2018 – 2.0% ). The valuation assumptions used to determine the recoverable amount for IFC Seoul were a discount rate of 7.5% (2018 – 7.7% ) based on a market-based-weighted-average cost of capital, and a long-term growth rate of 2.8% (2018 – 2.0% ). d) Renewable Power Goodwill in our Renewable Power segment, which is primarily attributable to a hydroelectric portfolio in Colombia, arose from the inclusion of a deferred tax liability as the tax bases of the net assets acquired were lower than their fair values. The goodwill is recoverable as long as the tax circumstances that gave rise to the goodwill do not change. To date, no such changes have occurred. Inputs used to Determine Recoverable Amounts of Goodwill The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate / multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date / terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2019
Income Taxes [Abstract]
INCOME TAXES	INCOME TAXES The major components of income tax expense for the years ended December 31, 2019 and 2018 are set out below: FOR THE YEARS ENDED DEC. 31 2019 2018 Current income tax expense $ 970 $ 861 Deferred income tax expense / (recovery) Origination and reversal of temporary differences 281 143 Expense arising from previously unrecognized tax assets (647 ) (955 ) Change of tax rates and new legislation (109 ) (297 ) Total deferred income tax recovery (475 ) (1,109 ) Income tax expense (recovery) $ 495 $ (248 ) The company’s Canadian domestic statutory income tax rate has remained consistent at 26% throughout both of 2019 and 2018 . The company’s effective income tax rate is different from the company’s domestic statutory income tax rate due to the following differences set out below: FOR THE YEARS ENDED DEC. 31 2019 2018 Statutory income tax rate 26 % 26 % Increase (reduction) in rate resulting from: Change in tax rates and new legislation (2 ) (4 ) International operations subject to different tax rates (7 ) (3 ) Taxable income attributable to non-controlling interests (4 ) (8 ) Portion of gains subject to different tax rates (1 ) (4 ) Recognition of deferred tax assets (9 ) (12 ) Non-recognition of the benefit of current year’s tax losses 4 1 Other 1 1 Effective income tax rate 8 % (3 )% Deferred income tax assets and liabilities as at December 31, 2019 and 2018 relate to the following: AS AT DEC. 31 2019 2018 Non-capital losses (Canada) $ 848 $ 685 Capital losses (Canada) 80 108 Losses (U.S.) 3,102 2,219 Losses (International) 705 645 Difference in basis (16,012 ) (13,161 ) Total net deferred tax liabilities $ (11,277 ) $ (9,504 ) The aggregate amount of temporary differences associated with investments in subsidiaries for which deferred tax liabilities have not been recognized as at December 31, 2019 is approximately $5 billion ( 2018 – approximately $6 billion ). The company regularly assesses the status of open tax examinations and its historical tax filing positions for the potential for adverse outcomes to determine the adequacy of the provision for income and other taxes. The company believes that it has adequately provided for any tax adjustments that are more likely than not to occur as a result of ongoing tax examinations or historical filing positions. The dividend payment on certain preferred shares of the company results in the payment of cash taxes in Canada and the company obtaining a deduction based on the amount of these taxes. The following table details the expiry date, if applicable, of the unrecognized deferred tax assets: AS AT DEC. 31 2019 2018 One year from reporting date $ 22 $ 16 Two years from reporting date 9 — Three years from reporting date 14 2 After three years from reporting date 1,159 1,125 Do not expire 1,632 1,526 Total $ 2,836 $ 2,669 The components of the income taxes in other comprehensive income for the years ended December 31, 2019 and 2018 are set out below: FOR THE YEARS ENDED DEC. 31 2019 2018 Revaluation of property, plant and equipment $ 623 $ 1,302 Financial contracts and power sale agreements 6 26 Fair value through OCI securities 88 10 Foreign currency translation (8 ) 69 Revaluation of pension obligation (6 ) 7 Total deferred tax in other comprehensive income $ 703 $ 1,414

CORPORATE BORROWINGS

CORPORATE BORROWINGS	12 Months Ended
CORPORATE BORROWINGS	Dec. 31, 2019
Disclosure of financial liabilities [abstract]
CORPORATE BORROWINGS	CORPORATE BORROWINGS AS AT DEC. 31 Maturity Annual Rate Currency 2019 2018 Term debt Public – Canadian Apr. 9, 2019 3.95 % C$ $ — $ 440 Public – Canadian Mar. 1, 2021 5.30 % C$ 269 257 Public – Canadian Mar. 31, 2023 4.54 % C$ 463 441 Public – Canadian Mar. 8, 2024 5.04 % C$ 385 367 Public – U.S. Apr. 1 , 2024 4.00 % US$ 749 749 Public – U.S. Jan. 15, 2025 4.00 % US$ 500 500 Public – Canadian Jan. 28, 2026 4.82 % C$ 664 633 Public – U.S. Jun. 2, 2026 4.25 % US$ 497 496 Public – Canadian Mar. 16, 2027 3.80 % C$ 385 366 Public – U.S. Jan. 25, 2028 3.90 % US$ 649 648 Public – U.S. Mar. 29, 2029 4.85 % US$ 998 — Public – U.S. Mar. 1, 2033 7.38 % US$ 250 250 Public – Canadian Jun. 14, 2035 5.95 % C$ 325 309 Private – Japanese Dec. 1, 2038 1.42 % JPY 92 91 Public – U.S. Sep. 20, 2047 4.70 % US$ 902 903 7,128 6,450 Deferred financing costs 1 (45 ) (41 ) Total $ 7,083 $ 6,409 1. Deferred financing costs are amortized to interest expense over the term of the borrowing using the effective interest method. Corporate borrowings have a weighted-average interest rate of 4.6% ( 2018 – 4.5% ) and include $2.5 billion ( 2018 – $2.8 billion ) repayable in Canadian dollars of C $3.2 billion ( 2018 – C $3.8 billion ) and $92 million (2018 – $91 million ) repayable in Japanese Yen of ¥10 billion (2018 – ¥10 billion ). NON-RECOURSE BORROWINGS OF MANAGED ENTITIES AS AT DEC. 31 Note 2019 2018 Subsidiary borrowings (a) $ 8,423 $ 8,600 Property-specific borrowings (b) 127,869 103,209 Total $ 136,292 $ 111,809 a) Subsidiary Borrowings Principal repayments on subsidiary borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2020 $ — $ — $ — $ — $ 17 $ 17 2021 443 — — — 36 479 2022 — 308 347 — 541 1,196 2023 308 — — — 227 535 2024 1,294 299 1,359 — 57 3,009 Thereafter — 1,501 768 — 949 3,218 Total Principal repayments 2,045 2,108 2,474 — 1,827 8,454 Deferred financing costs and other (21 ) (10 ) (4 ) — 4 (31 ) Total – Dec. 31, 2019 $ 2,024 $ 2,098 $ 2,470 $ — $ 1,831 $ 8,423 Total – Dec. 31, 2018 $ 2,504 $ 2,328 $ 1,993 $ 52 $ 1,723 $ 8,600 The weighted-average interest rate on subsidiary borrowings as at December 31, 2019 was 4.3% ( 2018 – 4.5% ). The current and non-current balances of subsidiary borrowings are as follows: AS AT DEC. 31 2019 2018 Current $ 17 $ 395 Non-current 8,406 8,205 Total $ 8,423 $ 8,600 Subsidiary borrowings by currency include the following: AS AT DEC. 31 2019 Local Currency 2018 Local Currency U.S. dollars $ 5,162 US$ 5,162 $ 6,846 US$ 6,846 Canadian dollars 3,078 C$ 3,998 1,613 C$ 2,200 Brazilian reais 183 Rs 737 — Rs — Australian dollars — A$ — 141 A$ 200 Total $ 8,423 $ 8,600 b) Property-Specific Borrowings Principal repayments on property-specific borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2020 $ 9,871 $ 1,556 $ 2,740 $ 1,438 $ 91 $ 15,696 2021 11,796 1,073 1,044 868 38 14,819 2022 7,784 1,168 1,707 1,487 19 12,165 2023 6,876 1,841 3,012 1,524 13 13,266 2024 11,181 797 3,043 2,947 136 18,104 Thereafter 20,945 9,377 9,365 15,363 — 55,050 Total Principal repayments 68,453 15,812 20,911 23,627 297 129,100 Deferred financing costs and other (544 ) (25 ) (135 ) (522 ) (5 ) (1,231 ) Total – Dec. 31, 2019 $ 67,909 $ 15,787 $ 20,776 $ 23,105 $ 292 $ 127,869 Total – Dec. 31, 2018 $ 63,494 $ 14,233 $ 14,334 $ 10,820 $ 328 $ 103,209 The weighted-average interest rate on property-specific borrowings as at December 31, 2019 was 4.7% ( 2018 – 5.0% ). The current and non-current balances of property-specific borrowings are as follows: AS AT DEC. 31 2019 2018 Current $ 15,696 $ 10,764 Non-current 112,173 92,445 Total $ 127,869 $ 103,209 Property-specific borrowings by currency include the following: AS AT DEC. 31 2019 Local Currency 2018 Local Currency U.S. dollars $ 84,203 US$ 84,203 $ 72,747 US$ 72,747 British pounds 9,812 £ 7,401 7,200 £ 5,643 Canadian dollars 7,955 C$ 10,333 6,285 C$ 8,573 European Union euros 6,844 € 6,103 3,264 € 2,846 Australian dollars 4,815 A$ 6,861 2,968 A$ 4,210 Indian rupees 4,143 Rs 295,106 2,026 Rs 140,694 Brazilian reais 3,969 R$ 15,998 3,825 R$ 14,820 Colombian pesos 2,029 COP$ 6,671,818 1,855 COP$ 6,025,270 Korean won 1,959 ₩ 2,264,478 1,613 ₩ 1,797,415 Chilean unidades de fomento 1,099 UF 29 837 UF 21 Other currencies 1,041 n/a n/a 589 n/a n/a Total $ 127,869 $ 103,209

ACCOUNTS PAYABLE AND OTHER

ACCOUNTS PAYABLE AND OTHER	12 Months Ended
ACCOUNTS PAYABLE AND OTHER	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
ACCOUNTS PAYABLE AND OTHER	ACCOUNTS PAYABLE AND OTHER AS AT DEC. 31 2019 2018 Accounts payable $ 9,583 $ 6,873 Provisions 4,104 2,830 Lease liabilities 5,494 — Other liabilities 23,896 14,286 Total $ 43,077 $ 23,989 The current and non-current balances of accounts payable, provisions and other liabilities are as follows: AS AT DEC. 31 2019 2018 Current $ 23,212 $ 14,337 Non-current 19,865 9,652 Total $ 43,077 $ 23,989 Post-Employment Benefits The company offers pension and other post-employment benefit plans to employees of certain of its subsidiaries. The company’s obligations under its defined benefit pension plans are determined periodically through the preparation of actuarial valuations. The benefit plans’ in-year valuation change was a decrease of $149 million ( 2018 – a decrease of $19 million ). The discount rate used was 3% ( 2018 – 2% ) with an increase in the rate of compensation of 2% ( 2018 – 2% ), and an investment rate of 6% ( 2018 – 3% ). AS AT DEC. 31 2019 2018 Plan assets $ 3,029 $ 1,981 Less accrued benefit obligation: Defined benefit pension plan (3,995 ) (2,548 ) Other post-employment benefits (173 ) (148 ) Net liability (1,139 ) (715 ) Less: net actuarial gains (losses) and other 13 (10 ) Accrued benefit liability $ (1,126 ) $ (725 )

NON-RECOURSE BORROWINGS

NON-RECOURSE BORROWINGS	12 Months Ended
NON-RECOURSE BORROWINGS	Dec. 31, 2019
Disclosure of financial liabilities [abstract]
NON-RECOURSE BORROWINGS	CORPORATE BORROWINGS AS AT DEC. 31 Maturity Annual Rate Currency 2019 2018 Term debt Public – Canadian Apr. 9, 2019 3.95 % C$ $ — $ 440 Public – Canadian Mar. 1, 2021 5.30 % C$ 269 257 Public – Canadian Mar. 31, 2023 4.54 % C$ 463 441 Public – Canadian Mar. 8, 2024 5.04 % C$ 385 367 Public – U.S. Apr. 1 , 2024 4.00 % US$ 749 749 Public – U.S. Jan. 15, 2025 4.00 % US$ 500 500 Public – Canadian Jan. 28, 2026 4.82 % C$ 664 633 Public – U.S. Jun. 2, 2026 4.25 % US$ 497 496 Public – Canadian Mar. 16, 2027 3.80 % C$ 385 366 Public – U.S. Jan. 25, 2028 3.90 % US$ 649 648 Public – U.S. Mar. 29, 2029 4.85 % US$ 998 — Public – U.S. Mar. 1, 2033 7.38 % US$ 250 250 Public – Canadian Jun. 14, 2035 5.95 % C$ 325 309 Private – Japanese Dec. 1, 2038 1.42 % JPY 92 91 Public – U.S. Sep. 20, 2047 4.70 % US$ 902 903 7,128 6,450 Deferred financing costs 1 (45 ) (41 ) Total $ 7,083 $ 6,409 1. Deferred financing costs are amortized to interest expense over the term of the borrowing using the effective interest method. Corporate borrowings have a weighted-average interest rate of 4.6% ( 2018 – 4.5% ) and include $2.5 billion ( 2018 – $2.8 billion ) repayable in Canadian dollars of C $3.2 billion ( 2018 – C $3.8 billion ) and $92 million (2018 – $91 million ) repayable in Japanese Yen of ¥10 billion (2018 – ¥10 billion ). NON-RECOURSE BORROWINGS OF MANAGED ENTITIES AS AT DEC. 31 Note 2019 2018 Subsidiary borrowings (a) $ 8,423 $ 8,600 Property-specific borrowings (b) 127,869 103,209 Total $ 136,292 $ 111,809 a) Subsidiary Borrowings Principal repayments on subsidiary borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2020 $ — $ — $ — $ — $ 17 $ 17 2021 443 — — — 36 479 2022 — 308 347 — 541 1,196 2023 308 — — — 227 535 2024 1,294 299 1,359 — 57 3,009 Thereafter — 1,501 768 — 949 3,218 Total Principal repayments 2,045 2,108 2,474 — 1,827 8,454 Deferred financing costs and other (21 ) (10 ) (4 ) — 4 (31 ) Total – Dec. 31, 2019 $ 2,024 $ 2,098 $ 2,470 $ — $ 1,831 $ 8,423 Total – Dec. 31, 2018 $ 2,504 $ 2,328 $ 1,993 $ 52 $ 1,723 $ 8,600 The weighted-average interest rate on subsidiary borrowings as at December 31, 2019 was 4.3% ( 2018 – 4.5% ). The current and non-current balances of subsidiary borrowings are as follows: AS AT DEC. 31 2019 2018 Current $ 17 $ 395 Non-current 8,406 8,205 Total $ 8,423 $ 8,600 Subsidiary borrowings by currency include the following: AS AT DEC. 31 2019 Local Currency 2018 Local Currency U.S. dollars $ 5,162 US$ 5,162 $ 6,846 US$ 6,846 Canadian dollars 3,078 C$ 3,998 1,613 C$ 2,200 Brazilian reais 183 Rs 737 — Rs — Australian dollars — A$ — 141 A$ 200 Total $ 8,423 $ 8,600 b) Property-Specific Borrowings Principal repayments on property-specific borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2020 $ 9,871 $ 1,556 $ 2,740 $ 1,438 $ 91 $ 15,696 2021 11,796 1,073 1,044 868 38 14,819 2022 7,784 1,168 1,707 1,487 19 12,165 2023 6,876 1,841 3,012 1,524 13 13,266 2024 11,181 797 3,043 2,947 136 18,104 Thereafter 20,945 9,377 9,365 15,363 — 55,050 Total Principal repayments 68,453 15,812 20,911 23,627 297 129,100 Deferred financing costs and other (544 ) (25 ) (135 ) (522 ) (5 ) (1,231 ) Total – Dec. 31, 2019 $ 67,909 $ 15,787 $ 20,776 $ 23,105 $ 292 $ 127,869 Total – Dec. 31, 2018 $ 63,494 $ 14,233 $ 14,334 $ 10,820 $ 328 $ 103,209 The weighted-average interest rate on property-specific borrowings as at December 31, 2019 was 4.7% ( 2018 – 5.0% ). The current and non-current balances of property-specific borrowings are as follows: AS AT DEC. 31 2019 2018 Current $ 15,696 $ 10,764 Non-current 112,173 92,445 Total $ 127,869 $ 103,209 Property-specific borrowings by currency include the following: AS AT DEC. 31 2019 Local Currency 2018 Local Currency U.S. dollars $ 84,203 US$ 84,203 $ 72,747 US$ 72,747 British pounds 9,812 £ 7,401 7,200 £ 5,643 Canadian dollars 7,955 C$ 10,333 6,285 C$ 8,573 European Union euros 6,844 € 6,103 3,264 € 2,846 Australian dollars 4,815 A$ 6,861 2,968 A$ 4,210 Indian rupees 4,143 Rs 295,106 2,026 Rs 140,694 Brazilian reais 3,969 R$ 15,998 3,825 R$ 14,820 Colombian pesos 2,029 COP$ 6,671,818 1,855 COP$ 6,025,270 Korean won 1,959 ₩ 2,264,478 1,613 ₩ 1,797,415 Chilean unidades de fomento 1,099 UF 29 837 UF 21 Other currencies 1,041 n/a n/a 589 n/a n/a Total $ 127,869 $ 103,209

SUBSIDIARY EQUITY OBLIGATIONS

SUBSIDIARY EQUITY OBLIGATIONS	12 Months Ended
SUBSIDIARY EQUITY OBLIGATIONS	Dec. 31, 2019
Disclosure of financial liabilities [abstract]
Disclosure of Equity Interest Classified as Liabilities [Text Block]	SUBSIDIARY EQUITY OBLIGATIONS Subsidiary equity obligations consist of the following: AS AT DEC. 31 Note 2019 2018 Subsidiary preferred equity units (a) $ 1,650 $ 1,622 Limited-life funds and redeemable fund units (b) 1,896 1,724 Subsidiary preferred shares and capital (c) 586 530 Total $ 4,132 $ 3,876 a) Subsidiary Preferred Equity Units In 2014, BPY issued $1.8 billion of exchangeable preferred equity units in three $600 million tranches redeemable in 2021, 2024 and 2026, respectively. The preferred equity units are exchangeable into equity units of BPY at $25.70 per unit, at the option of the holder, at any time up to and including the maturity date. BPY may redeem the preferred equity units after specified periods if the BPY equity unit price exceeds predetermined amounts. At maturity, the preferred equity units that remain outstanding will be converted into BPY equity units at the lower of $25.70 or the then market price of a BPY equity unit. The preferred equity units represent a compound financial instrument comprised of the financial liability representing the company’s obligations to redeem the preferred equity units at maturity for a variable number of BPY units and an equity instrument representing the holder’s right to convert the preferred equity units to a fixed number of BPY units. The company is required under certain circumstances to purchase the preferred equity units at their redemption value in equal amounts in 2021 and 2024 and may be required to purchase the 2026 tranche, as further described in Note 29(a). AS AT DEC. 31 Shares Outstanding Cumulative Dividend Rate Local Currency 2019 2018 Series 1 24,000,000 6.25 % US$ $ 574 $ 562 Series 2 24,000,000 6.50 % US$ 546 537 Series 3 24,000,000 6.75 % US$ 530 523 Total $ 1,650 $ 1,622 b) Limited-Life Funds and Redeemable Fund Units Limited-life funds and redeemable fund units represent interests held in our consolidated funds by third-party investors that have been classified as a liability rather than as non-controlling interest, as holders of these interests can cause our funds to redeem their interest in the fund for cash equivalents at a specified time. As at December 31, 2019 , we have $1.9 billion of subsidiary equity obligations arising from limited-life funds and redeemable fund units ( 2018 – $1.7 billion arising from limited-life funds). In our real estate business, limited-life fund obligations include $921 million ( 2018 – $813 million ) of equity interests held by third-party investors in two consolidated funds that have been classified as a liability, instead of non-controlling interest, as holders of these interests can cause the funds to redeem their interests in the fund for cash equivalents at the fair value of the interest at a set date. As at December 31, 2019 , we have $934 million ( 2018 – $826 million ) of subsidiary equity obligations arising from limited-life fund units in our infrastructure business. These obligations are primarily composed of the portion of the equity interest held by third-party investors in our timberland and agriculture funds that are attributed to the value of the land held in the fund. The value of this equity interest has been classified as a liability, instead of non-controlling interest, as we are obligated to purchase the land from the third-party investors on maturity of the fund. We also have $41 million of redeemable fund units (2018 – $85 million ) in certain funds managed by our public securities business. c) Subsidiary Preferred Shares and Capital Preferred shares are classified as liabilities if the holders of the preferred shares have the right, after a fixed date, to convert the shares into common equity of the issuer based on the market price of the common equity of the issuer at that time unless they are previously redeemed by the issuer. The dividends paid on these securities are recorded in interest expense. As at December 31, 2019 and 2018 , the balance related to obligations of BPY and its subsidiaries. AS AT DEC. 31 Shares Outstanding Cumulative Dividend Rate Local Currency 2019 2018 Brookfield Property Split Corp (“BOP Split”) senior preferred shares Series 1 924,390 5.25 % US$ $ 23 $ 23 Series 2 699,165 5.75 % C$ 13 13 Series 3 909,814 5.00 % C$ 18 17 Series 4 940,486 5.20 % C$ 18 17 BSREP II RH B LLC (“Manufactured Housing”) preferred capital — 9.00 % US$ 249 249 Rouse Series A preferred shares 5,600,000 5.00 % US$ 142 142 BSREP II Vintage Estate Partners LLC (“Vintage Estates”) preferred shares 10,000 5.00 % US$ 40 40 BIP Investment Corporation Series 1 Senior preferred shares 4,000,000 5.85 % C$ 73 — Forest City Enterprises L.P. (“Forest City”) & Other Preferred Capital 387,079 2.00 % US$ 10 29 Total $ 586 $ 530 Each series of the BOP Split senior preferred shares are redeemable at the option of either the issuer or the holder as the redemption and conversion option dates have passed. Subsidiary preferred capital includes $249 million at December 31, 2019 ( 2018 – $249 million ) of preferred equity interests held by a third-party investor in Manufactured Housing which has been classified as a liability, rather than as non-controlling interest, due to the fact the holders are only entitled to distributions equal to their capital balance plus 9% annual return payable in monthly distributions until maturity in December 2025. The preferred capital was issued to partially fund the acquisition of the Manufactured Housing portfolio during the first quarter of 2017. Subsidiary preferred shares include $ 142 million at December 31, 2019 ( 2018 – $142 million ) of preferred equity interests held by a third-party investor in Rouse Properties, L.P., which have been classified as a liability, rather than as non-controlling interests, due to the fact that the interests have no voting rights and are mandatorily redeemable on or after November 12, 2025 for a set price per unit plus any accrued but unpaid distributions; distributions are capped and accrue regardless of available cash generated.

SUBSIDIARY PUBLIC ISSUERS AND F

SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY	12 Months Ended
SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY	Dec. 31, 2019
Disclosure of subsidiaries [abstract]
SUBSIDIARIES	SUBSIDIARIES The following table presents the details of the company’s subsidiaries with significant non-controlling interests: Jurisdiction of Formation Ownership Interest Held by Non-Controlling Interests 1, 2 AS AT DEC. 31 2019 2018 Brookfield Property Partners L.P. (“BPY”) Bermuda 44.8 % 46.2 % Brookfield Renewable Partners L.P. (“BEP”) Bermuda 39.5 % 39.5 % Brookfield Infrastructure Partners L.P. (“BIP”) Bermuda 70.4 % 70.5 % Brookfield Business Partners L.P. (“BBU”) Bermuda 37.3 % 32.0 % 1. Control and associated voting rights of the limited partnerships (BPY, BEP, BIP and BBU) resides with their respective general partners which are wholly owned subsidiaries of the company. The company’s general partner interest is entitled to earn base management fees and incentive payments in the form of incentive distribution rights or performance fees. 2. The company’s ownership interest in BPY, BEP, BIP and BBU includes a combination of redemption-exchange units (REUs), Class A limited partnership units, special limited partnership units, general partnership units and units or shares that are exchangeable for units in our listed partnerships, in each subsidiary, where applicable. Each of BPY, BEP, BIP and BBU’s partnership capital includes its Class A limited partnership units whereas REUs and general partnership units are considered non-controlling interests for the respective partnerships. REUs share the same economic attributes in all respects except for the redemption right attached thereto. The REUs and general partnership units participate in earnings and distributions on a per unit basis equivalent to the per unit participation of the Class A limited partnership units of the subsidiary. The table below presents the exchanges on which the company’s subsidiaries with significant non-controlling interests were publicly listed as of December 31, 2019 : TSX NYSE Nasdaq BPY BPY.UN N/A BPY BEP BEP.UN BEP N/A BIP BIP.UN BIP N/A BBU BBU.UN BBU N/A The following table outlines the composition of accumulated non-controlling interests presented within the company’s consolidated financial statements: AS AT DEC. 31 2019 2018 BPY $ 29,165 $ 31,580 BEP 13,321 12,457 BIP 20,036 12,752 BBU 8,664 4,477 Individually immaterial subsidiaries with non-controlling interests 10,647 6,069 $ 81,833 $ 67,335 All publicly listed entities are subject to independent governance. Accordingly, the company has no direct access to the assets of these subsidiaries. Summarized financial information with respect to the company’s subsidiaries with significant non-controlling interests is set out below. The summarized financial information represents amounts before intra-group eliminations: BPY BEP BIP BBU AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Current assets $ 3,289 $ 7,114 $ 1,474 $ 1,961 $ 5,841 $ 2,276 $ 12,795 $ 9,781 Non-current assets 108,354 115,406 34,217 32,142 50,467 34,304 38,956 17,537 Current liabilities (12,466 ) (10,306 ) (1,678 ) (1,689 ) (5,439 ) (2,417 ) (11,024 ) (9,016 ) Non-current liabilities (54,242 ) (65,474 ) (15,882 ) (15,208 ) (28,692 ) (19,495 ) (29,674 ) (11,808 ) Non-controlling interests (29,165 ) (31,580 ) (13,321 ) (12,457 ) (20,036 ) (12,752 ) (8,664 ) (4,477 ) Equity attributable to Brookfield $ 15,770 $ 15,160 $ 4,810 $ 4,749 $ 2,141 $ 1,916 $ 2,389 $ 2,017 Revenues $ 8,203 $ 7,239 $ 2,980 $ 2,982 $ 6,597 $ 4,652 $ 43,032 $ 37,168 Net income (loss) attributable to: Non-controlling interests $ 2,091 $ 2,356 $ 348 $ 401 $ 636 $ 724 $ 353 $ 1,106 Shareholders 1,066 1,298 (75 ) 2 14 82 81 97 $ 3,157 $ 3,654 $ 273 $ 403 $ 650 $ 806 $ 434 $ 1,203 Other comprehensive income (loss) attributable to: Non-controlling interests $ 234 $ (122 ) $ 1,179 $ 2,292 $ 486 $ (859 ) $ (159 ) $ (292 ) Shareholders 89 (294 ) 546 972 104 (86 ) (39 ) (96 ) $ 323 $ (416 ) $ 1,725 $ 3,264 $ 590 $ (945 ) $ (198 ) $ (388 ) The summarized cash flows of the company’s subsidiaries with material non-controlling interests are as follows: BPY BEP BIP BBU FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Cash flows from (used in): Operating activities $ 624 $ 1,357 $ 1,212 $ 1,103 $ 2,143 $ 1,362 $ 2,163 $ 1,341 Financing activities (892 ) 8,873 (1,010 ) (1,080 ) 9,542 4,418 15,925 3,561 Investing activities (1,611 ) (8,406 ) (251 ) (624 ) (11,372 ) (5,564 ) (17,939 ) (3,999 ) Distributions paid to non-controlling interests in common equity $ 576 $ 427 $ 254 $ 244 $ 628 $ 558 $ 13 $ 11 SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY Brookfield Finance Inc. (“BFI”) is an indirect 100% owned subsidiary of the Corporation that may offer and sell debt securities. Any debt securities issued by BFI are fully and unconditionally guaranteed by the Corporation. BFI issued $500 million of 4.25% notes due in 2026 on June 2, 2016, $550 million and $350 million of 4.70% notes due in 2047 on September 14, 2017 and January 17, 2018, respectively, $650 million of 3.90% notes due in 2028 on January 17, 2018 and $1 billion of 4.85% notes due in 2029 on January 29, 2019. Brookfield Finance LLC (“BFL”) is a Delaware limited liability company formed on February 6, 2017 and an indirect 100% owned subsidiary of the Corporation. BFL is a “finance subsidiary,” as defined in Rule 3-10 of Regulation S-X. Any debt securities issued by BFL are fully and unconditionally guaranteed by the Corporation. On March 10, 2017, BFL issued $750 million of 4.00% notes due in 2024. On December 31, 2018, as part of an internal reorganization, the 2024 notes were transferred to BFI. BFL has no independent activities, assets or operations other than in connection with any debt securities it may issue. Subsequent to year-end, the Corporation announced a public offering of $600 million of notes due 2050. The notes were issued by BFL and have a coupon of 3.45% . Brookfield Investments Corporation (“BIC”) is an investment company that holds investments in the real estate and forest products sectors, as well as a portfolio of preferred shares issued by the Corporation’s subsidiaries. The Corporation provided a full and unconditional guarantee of the Class 1 Senior Preferred Shares, Series A issued by BIC. As at December 31, 2019, C $42 million of these senior preferred shares were held by third-party shareholders and are retractable at the option of the holder. The following tables contain summarized financial information of the Corporation, BFI, BFL, BIC and non-guarantor subsidiaries: AS AT AND FOR THE YEAR ENDED DEC. 31, 2019 The Corporation 1 BFI BFL BIC Subsidiaries of the Corporation 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 104 $ 148 $ — $ 105 $ 73,310 $ (5,841 ) $ 67,826 Net income attributable to shareholders 2,807 40 — 85 3,493 (3,618 ) 2,807 Total assets 70,976 5,389 — 3,520 331,698 (87,614 ) 323,969 Total liabilities 35,963 3,994 — 2,239 195,586 (30,659 ) 207,123 AS AT AND FOR THE YEAR ENDED DEC. 31, 2018 The Corporation 1 BFI BFL BIC Subsidiaries of the Corporation 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 810 $ 43 $ 53 $ 163 $ 62,984 $ (7,282 ) $ 56,771 Net income attributable to shareholders 3,584 (46 ) (1 ) 145 4,506 (4,604 ) 3,584 Total assets 59,105 4,330 13 3,296 271,534 (81,997 ) 256,281 Total liabilities 29,290 2,909 6 2,198 154,458 (29,730 ) 159,131 1. This column accounts for investments in all subsidiaries of the Corporation under the equity method. 2. This column accounts for investments in all subsidiaries of the Corporation other than BFI, BFL and BIC on a combined basis. 3. This column includes the necessary amounts to present the company on a consolidated basis.

EQUITY

EQUITY	12 Months Ended
EQUITY	Dec. 31, 2019
Equity [abstract]
EQUITY	EQUITY Equity consists of the following: AS AT DEC. 31 Note 2019 2018 Preferred equity (a) $ 4,145 $ 4,168 Non-controlling interests (b) 81,833 67,335 Common equity (c) 30,868 25,647 $ 116,846 $ 97,150 a) Preferred Equity Preferred equity includes perpetual preferred shares and rate-reset preferred shares and consists of the following: Average Rate AS AT DEC. 31 2019 2018 2019 2018 Perpetual preferred shares Floating rate 2.91 % 2.90 % $ 531 $ 531 Fixed rate 4.82 % 4.82 % 739 744 4.02 % 4.02 % 1,270 1,275 Fixed rate-reset preferred shares 4.28 % 4.26 % 2,875 2,893 4.20 % 4.19 % $ 4,145 $ 4,168 Further details on each series of preferred shares are as follows: Issued and Outstanding AS AT DEC. 31 Rate 2019 2018 2019 2018 Class A preferred shares Perpetual preferred shares Series 2 70% P 10,457,685 10,457,685 $ 169 $ 169 Series 4 70% P/8.5% 2,795,910 2,795,910 45 45 Series 8 Variable up to P 2,476,185 2,476,185 42 42 Series 13 70% P 9,290,096 9,290,096 195 195 Series 15 B.A. + 40 b.p. 1 2,000,000 2,000,000 42 42 Series 17 4.75 % 7,840,204 7,901,476 171 172 Series 18 4.75 % 7,866,749 7,921,178 178 179 Series 25 3-Month T-Bill + 230 b.p. 1,529,133 1,529,133 38 38 Series 36 4.85 % 7,842,909 7,900,764 197 199 Series 37 4.90 % 7,830,091 7,888,143 193 194 1,270 1,275 Rate-reset preferred shares 2 Series 9 2.75 % 1,515,981 1,515,981 21 21 Series 24 3.01 % 9,278,894 9,338,572 227 228 Series 26 3.47 % 9,770,928 9,840,588 240 241 Series 28 2.73 % 9,233,927 9,289,397 232 233 Series 30 4.69 % 9,787,090 9,852,258 241 243 Series 32 3 5.06 % 11,750,299 11,849,808 297 300 Series 34 4 4.44 % 9,876,735 9,926,620 253 254 Series 38 4.40 % 7,906,132 7,955,948 179 180 Series 40 5 4.03 % 11,841,025 11,914,515 271 273 Series 42 4.50 % 11,887,500 11,943,400 266 268 Series 44 5.00 % 9,831,929 9,882,879 187 188 Series 46 4.80 % 11,740,797 11,810,653 217 219 Series 48 4.75 % 11,885,972 11,961,701 244 245 2,875 2,893 Total $ 4,145 $ 4,168 1. Rate determined quarterly. 2. Dividend rates are fixed for 5 to 6 years from the quarter end dates after issuance, June 30, 2011, March 31, 2012, June 30, 2012, December 31, 2012, September 30, 2013, March 31, 2014, June 30, 2014, December 31, 2014, December 31, 2015, December 31, 2016 and December 31, 2017, respectively and reset after 5 to 6 years to the 5 -year Government of Canada bond rate plus between 180 and 417 basis points. 3. Dividend rate reset commenced September 30, 2018. 4. Dividend rate reset commenced March 31, 2019. 5. Dividend rate reset commenced September 30, 2019. P – Prime Rate, B.A. – Bankers’ Acceptance Rate, b.p. – Basis Points. The company is authorized to issue an unlimited number of Class A preferred shares and an unlimited number of Class AA preferred shares, issuable in series. No Class AA preferred shares have been issued. The Class A preferred shares are entitled to preference over the Class A and Class B Limited Voting Shares (“Class A and B shares”) on the declaration of dividends and other distributions to shareholders. All series of the outstanding preferred shares have a par value of C$ 25.00 per share. b) Non-controlling Interests Non-controlling interests represent the common and preferred equity in consolidated entities that are owned by other shareholders. AS AT DEC. 31 2019 2018 Common equity $ 76,557 $ 62,109 Preferred equity 5,276 5,226 Total $ 81,833 $ 67,335 Further information on non-controlling interests is provided in Note 4 – Subsidiaries. c) Common Equity The company’s common equity is comprised of the following: AS AT DEC. 31, 2019 AND 2018 2019 2018 Common shares $ 7,305 $ 4,457 Contributed surplus 286 271 Retained earnings 16,026 14,244 Ownership changes 1,010 645 Accumulated other comprehensive income 6,241 6,030 Common equity $ 30,868 $ 25,647 The company is authorized to issue an unlimited number of Class A shares and 85,120 Class B shares, together referred to as common shares. The company’s common shares have no stated par value. The holders of Class A shares and Class B shares rank on par with each other with respect to the payment of dividends and the return of capital on the liquidation, dissolution or winding up of the company or any other distribution of the assets of the company among its shareholders for the purpose of winding up its affairs. Holders of the Class A shares are entitled to elect half of the Board of Directors of the company and holders of the Class B shares are entitled to elect the other half of the Board of Directors. With respect to the Class A and Class B shares, there are no dilutive factors, material or otherwise, that would result in different diluted earnings per share between the classes. This relationship holds true irrespective of the number of dilutive instruments issued in either one of the respective classes of common stock, as both classes of shares participate equally, on a pro rata basis, in the dividends, earnings and net assets of the company, whether taken before or after dilutive instruments, regardless of which class of shares is diluted. The holders of the company’s common shares received cash dividends during 2019 of $0.64 per share (2018 – $0.60 per share). The number of issued and outstanding common shares and unexercised options are as follows: AS AT DEC. 31, 2019 AND 2018 2019 2018 Class A shares 1 1,006,110,641 955,057,721 Class B shares 85,120 85,120 Shares outstanding 1 1,006,195,761 955,142,841 Unexercised options and other share-based plans 2 46,678,774 42,086,712 Total diluted shares 1,052,874,535 997,229,553 1. Net of 42,278,231 Class A shares held by the company in respect of long-term compensation agreements as at December 31, 2019 (2018 – 37,538,531 ). 2. Includes management share option plan and escrowed stock plan. The authorized common share capital consists of an unlimited number of Class A shares and 85,120 Class B shares. Shares issued and outstanding changed as follows: FOR THE YEARS ENDED DEC. 31 2019 2018 Outstanding, beginning of year 1 955,142,841 958,773,120 Issued (repurchased) Issuances 52,757,437 — Repurchases (7,188,534 ) (9,579,740 ) Long-term share ownership plans 2 5,346,417 5,752,331 Dividend reinvestment plan and others 137,600 197,130 Outstanding, end of year 3 1,006,195,761 955,142,841 1. Net of 37,538,531 Class A shares held by the company in respect of long-term compensation agreements as at December 31, 2018 (2017 – 30,569,215 ). 2. Includes management share option plan and restricted stock plan. 3. Net of 42,278,231 Class A shares held by the company in respect of long-term compensation agreements as at December 31, 2019 (2018 – 37,538,531 ). In September 2019, the compa ny issued 52.8 million Class A shares in connection with the acquisition of an approximate 61% interest in Oaktree. Earnings Per Share The components of basic and diluted earnings per share are summarized in the following table: FOR THE YEARS ENDED DEC. 31 2019 2018 Net income attributable to shareholders $ 2,807 $ 3,584 Preferred share dividends (152 ) (151 ) Dilutive effect of conversion of subsidiary preferred shares (74 ) (105 ) Net income available to shareholders $ 2,581 $ 3,328 Weighted average – common shares 968.6 957.6 Dilutive effect of the conversion of options and escrowed shares using treasury stock method 23.7 19.8 Common shares and common share equivalents 992.3 977.4 Share-Based Compensation The expense recognized for share-based compensation is summarized in the following table: FOR THE YEARS ENDED DEC. 31 2019 2018 Expense arising from equity-settled share-based payment transactions $ 81 $ 73 Expense/(Recovery) arising from cash-settled share-based payment transactions 506 (64 ) Total expense arising from share-based payment transactions 587 9 Effect of hedging program (500 ) 75 Total expense included in consolidated income $ 87 $ 84 The share-based payment plans are described below. There were no cancellations of or modifications to any of the plans during 2019 and 2018 . Equity-settled Share-based Awards Management Share Option Plan Options issued under the company’s Management Share Option Plan (“MSOP”) vest over a period of up to five years, expire 10 years after the grant date and are settled through issuance of Class A shares. The exercise price is equal to the market price at the grant date. For the year ended December 31, 2019 , the total expense incurred with respect to MSOP totaled $31 million ( 2018 – $28 million). The changes in the number of options during 2019 and 2018 were as follows: TSX NYSE Number of Options (000’s) 1 Weighted- Average Exercise Price Number of Options (000’s) 2 Weighted- Average Exercise Price Outstanding at January 1, 2019 790 C$ 11.77 36,742 US$ 29.52 Granted — — 5,077 45.63 Exercised (790 ) 11.77 (7,831 ) 20.26 Canceled — — (186 ) 40.02 Outstanding at December 31, 2019 — C$ — 33,802 US$ 34.03 1. Options to acquire TSX listed Class A shares. 2. Options to acquire NYSE listed Class A shares. TSX NYSE Number of Options (000’s) 1 Weighted- Average Exercise Price Number of Options (000’s) 2 Weighted- Average Exercise Price Outstanding at January 1, 2018 2,797 C$ 12.35 34,893 US$ 27.71 Granted — — 4,538 40.42 Exercised (2,007 ) 12.59 (2,492 ) 23.58 Canceled — — (197 ) 34.81 Outstanding at December 31, 2018 790 C$ 11.77 36,742 US$ 29.52 1. Options to acquire TSX listed Class A shares. 2. Options to acquire NYSE listed Class A shares. The weighted-average fair value of options granted for the year ended December 31, 2019 was $5.89 (2018 – $5.38 ), and was determined using the Black-Scholes valuation model, with inputs to the model as follows: FOR THE YEARS ENDED DEC. 31 Unit 2019 2018 Weighted-average share price US$ 45.63 40.42 Average term to exercise Years 7.5 7.5 Share price volatility 1 % 16.9 16.3 Liquidity discount % 25.0 25.0 Weighted-average annual dividend yield % 2.0 1.9 Risk-free rate % 2.5 2.8 1. Share price volatility was determined based on historical share prices over a similar period to the average term to exercise. At December 31, 2019 , the following options to purchase Class A shares were outstanding: Options Outstanding (000’s) Exercise Price Weighted-Average Remaining Life Vested Unvested Total US$15.45 – US$23.02 1.6 years 3,746 — 3,746 US$23.37 – US$30.59 4.7 years 8,348 1,542 9,890 US$33.75 – US$40.39 6.8 years 7,581 7,514 15,095 US$44.24 – US$57.96 9.2 years 409 4,662 5,071 20,084 13,718 33,802 At December 31, 2018 , the following options to purchase Class A shares were outstanding: Options Outstanding (000’s) Exercise Price Weighted-Average Remaining Life Vested Unvested Total C$11.77 0.2 years 790 — 790 US$15.45 1.2 years 4,255 — 4,255 US$16.83 – US$23.37 2.8 years 5,160 — 5,160 US$25.21 – US$30.59 5.5 years 8,410 3,293 11,703 US$33.75 – US$36.32 6.1 years 2,873 2,115 4,988 US$36.88 – US$37.75 8.6 years 1,197 9,439 10,636 22,685 14,847 37,532 Escrowed Stock Plan The Escrowed Stock Plan (the “ES Plan”) provides executives with indirect ownership of Class A shares. Under the ES Plan, executives are granted common shares (the “ES Shares”) in one or more private companies that own Class A shares. The Class A shares are purchased on the open market with the purchase cost funded by the company. The ES shares generally vest over five years and must be held to the fifth anniversary of the grant date. At a date no more than ten years from the grant date, all outstanding ES shares will be exchanged for Class A shares issued by the company based on the market value of Class A shares at the time of the exchange. The number of Class A shares issued on exchange will be less than the Class A shares purchased under the ES Plan resulting in a net reduction in the number of Class A shares issued by the company. During 2019 , 10.7 million Class A shares were purchased in respect of ES shares granted to executives under the ES Plan ( 2018 – 5.8 million Class A shares) during the year. For the year ended December 31, 2019 , the total expense incurred with respect to the ES Plan totaled $25 million ( 2018 – $25 million ). The weighted-average fair value of escrowed shares granted for the year ended December 31, 2019 was $6.81 (2018 – $5.38 ), and was determined using the Black-Scholes model of valuation with inputs to the model as follows: FOR THE YEARS ENDED DEC. 31 Unit 2019 2018 Weighted-average share price US$ 51.11 40.39 Average term to exercise Years 8.5 7.5 Share price volatility 1 % 17.3 16.3 Liquidity discount % 25 25 Weighted-average annual dividend yield % 1.8 1.9 Risk-free rate % 2.1 2.8 1. Share price volatility was determined based on historical share prices over a similar period to the average term to exercise. The change in the number of ES shares during 2019 and 2018 was as follows: Number of Units (000’s) Weighted- Average Exercise Price Outstanding at January 1, 2019 27,103 $ 33.27 Granted 10,650 51.11 Exercised (1,075 ) 23.66 Canceled (151 ) 39.48 Outstanding at December 31, 2019 36,527 $ 38.73 Number of Units (000’s) Weighted- Average Exercise Price Outstanding at January 1, 2018 27,772 $ 29.01 Granted 5,815 40.39 Exercised (6,484 ) 21.40 Outstanding at December 31, 2018 27,103 $ 33.27 Restricted Stock Plan The Restricted Stock Plan awards executives with Class A shares purchased on the open market (“Restricted Shares”). Under the Restricted Stock Plan, Restricted Shares awarded vest over a period of up to five years, except for Restricted Shares awarded in lieu of a cash bonus, which may vest immediately. Vested and unvested Restricted Shares are subject to a hold period of up to five years. Holders of Restricted Shares are entitled to vote Restricted Shares and to receive associated dividends. Employee compensation expense for the Restricted Stock Plan is charged against income over the vesting period. During 2019 , Brookfield granted 800,493 Class A shares ( 2018 – 581,051 ) pursuant to the terms and conditions of the Restricted Stock Plan, resulting in the recognition of $25 million ( 2018 – $20 million ) of compensation expense. Cash-settled Share-based Awards Deferred Share Unit Plan and Restricted Share Unit Plan The Deferred Share Unit Plan and Restricted Share Unit Plan provide for the issuance of DSUs and RSUs, respectively. Under these plans, qualifying employees and directors receive varying percentages of their annual incentive bonus or directors’ fees in the form of DSUs and RSUs. The DSUs and RSUs vest over periods of up to five years, and DSUs accumulate additional DSUs at the same rate as dividends on common shares based on the market value of the common shares at the time of the dividend. Participants are not allowed to convert DSUs and RSUs into cash until retirement or cessation of employment. The value of the DSUs, when converted to cash, will be equivalent to the market value of the common shares at the time the conversion takes place. The value of the RSUs, when converted into cash, will be equivalent to the difference between the market price of equivalent number of common shares at the time the conversion takes place and the market price on the date the RSUs are granted. The company uses equity derivative contracts to offset its exposure to the change in share prices in respect of vested and unvested DSUs and RSUs. The fair value of the vested DSUs and RSUs as at December 31, 2019 was $1.4 billion ( 2018 – $894 million ). Employee compensation expense for these plans is charged against income over the vesting period of the DSUs and RSUs. The amount payable by the company in respect of vested DSUs and RSUs changes as a result of dividends and share price movements. All of the amounts attributable to changes in the amounts payable by the company are recorded as employee compensation expense in the period of the change. For the year ended December 31, 2019 , employee compensation expense totaled $7 million ( 2018 – $11 million ), net of the impact of hedging arrangements. The change in the number of DSUs and RSUs during 2019 and 2018 was as follows: DSUs RSUs Number of Units (000’s) Number of Units (000’s) Weighted- Average Exercise Price Outstanding at January 1, 2019 14,637 10,540 C$ 9.21 Granted and reinvested 532 — — Exercised and canceled (1,034 ) — — Outstanding at December 31, 2019 14,135 10,540 C$ 9.21 DSUs RSUs Number of Units (000’s) Number of Units (000’s) Weighted- Average Exercise Price Outstanding at January 1, 2018 14,944 10,920 C$ 9.09 Granted and reinvested 466 — — Exercised and canceled (773 ) (380 ) 5.89 Outstanding at December 31, 2018 14,637 10,540 C$ 9.21 The fair value of each DSU is equal to the traded price of the company’s common shares. Unit Dec. 31, 2019 Dec. 31, 2018 Share price on date of measurement C$ 75.03 52.32 Share price on date of measurement US$ 57.80 38.35 The fair value of RSUs was determined primarily using the following inputs: Unit Dec. 31, 2019 Dec. 31, 2018 Share price on date of measurement C$ 75.03 52.32 Weighted-average fair value of a unit C$ 65.82 43.11

REVENUES

REVENUES	12 Months Ended
REVENUES	Dec. 31, 2019
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Disclosure of revenue	REVENUES We perform a disaggregated analysis of revenues considering the nature, amount, timing and uncertainty of revenues. This includes disclosure of our revenues by segment and type, as well as a breakdown of whether revenues from goods or services are recognized at a point in time or delivered over a period of time. a) Revenue by Type FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) Asset Real Estate Renewable Infrastructure Private Equity Residential Development Corporate Total Revenue from contracts with customers $ 271 $ 3,833 $ 3,810 $ 6,333 $ 42,147 $ 2,396 $ 9 $ 58,799 Other revenue — 6,609 149 758 952 60 499 9,027 $ 271 $ 10,442 $ 3,959 $ 7,091 $ 43,099 $ 2,456 $ 508 $ 67,826 FOR THE YEAR ENDED DEC. 31, 2018 (MILLIONS) Asset Real Estate Renewable Infrastructure Private Equity Residential Development Corporate Total Revenue from contracts with customers $ 187 $ 3,107 $ 3,651 $ 4,859 $ 36,693 $ 2,651 $ 13 $ 51,161 Other revenue — 4,968 100 154 135 32 221 5,610 $ 187 $ 8,075 $ 3,751 $ 5,013 $ 36,828 $ 2,683 $ 234 $ 56,771 b) Timing of Recognition of Revenue from Contracts with Customers FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) Asset Real Estate Renewable Infrastructure Private Equity Residential Development Corporate Total Goods and services provided at a point in time $ — $ 1,193 $ 95 $ 225 $ 34,141 $ 2,384 $ 9 $ 38,047 Services transferred over a period of time 271 2,640 3,715 6,108 8,006 12 — 20,752 $ 271 $ 3,833 $ 3,810 $ 6,333 $ 42,147 $ 2,396 $ 9 $ 58,799 FOR THE YEAR ENDED DEC. 31, 2018 (MILLIONS) Asset Real Estate Renewable Infrastructure Private Equity Residential Development Corporate Total Goods and services provided at a point in time $ — $ 1,118 $ 79 $ 201 $ 28,860 $ 2,651 $ 13 $ 32,922 Services transferred over a period of time 187 1,989 3,572 4,658 7,833 — — 18,239 $ 187 $ 3,107 $ 3,651 $ 4,859 $ 36,693 $ 2,651 $ 13 $ 51,161 Remaining Performance Obligations Private Equity In our construction services business, backlog is defined as revenue yet to be delivered (i.e. remaining performance obligations) on construction projects that have been secured via an executed contract, work order or letter of intent. As at December 31, 2019 our backlog of construction projects was approximately $7.0 billion ( 2018 – $8.0 billion ), with an overall weighted-average remaining project life of approximately two years ( 2018 – two years). In our Brazilian water and wastewater services business, our long-term, inflation-adjusted concession service contracts with various municipalities have an average remaining contract duration of 24 years as at December 31, 2019 ( 2018 – 25 years ). Others In our asset management, infrastructure and renewable power businesses, revenue is generally recognized as invoiced for contracts recognized over a period of time as the amounts invoiced are commensurate with the value provided to the customers. c) Lease Income Our leases in which the Company is a lessor are primarily operating in nature. Total lease income from our assets leased out on operating leases totaled $6.8 billion including $67 million of income related to variable lease income that is not dependent on an index or rate. The following table presents the undiscounted contractual earnings receivable of the company’s leases by expected period of receipt: Payments Receivable by Period AS AT DEC. 31, 2019 (MILLIONS) Less than 1 Year 1 – 3 Years 4 – 5 Years After 5 Years Total Receivables from lease contracts $ 4,514 $ 8,239 $ 6,744 $ 15,875 $ 35,372

DIRECT COSTS

DIRECT COSTS	12 Months Ended
DIRECT COSTS	Dec. 31, 2019
Analysis of income and expense [abstract]
DIRECT COSTS	DIRECT COSTS Direct costs include all attributable expenses except interest, depreciation and amortization, taxes and fair value changes and primarily relate to cost of sales and compensation. The following table lists direct costs for 2019 and 2018 by nature: FOR THE YEARS ENDED DEC. 31 2019 2018 Cost of sales $ 41,463 $ 37,506 Compensation 6,035 3,954 Selling, general and administrative expenses 2,612 1,765 Property taxes, sales taxes and other 2,618 2,294 $ 52,728 $ 45,519

FAIR VALUE CHANGES

FAIR VALUE CHANGES	12 Months Ended
FAIR VALUE CHANGES	Dec. 31, 2019
Fair Value Measurement [Abstract]
Fair value changes	FAIR VALUE CHANGES Fair value changes recorded in net income represent gains or losses arising from changes in the fair value of assets and liabilities, including derivative financial instruments, accounted for using the fair value method and are comprised of the following: FOR THE YEARS ENDED DEC. 31 2019 2018 Investment properties $ 1,710 $ 1,610 Transaction related (losses) gains, net of deal costs (895 ) 1,132 Financial contracts (140 ) (189 ) Impairment and provisions (825 ) (309 ) Other fair value changes (681 ) (450 ) $ (831 ) $ 1,794

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The company’s activities expose it to a variety of financial risks, including market risk (i.e. currency risk, interest rate risk and other price risk), credit risk and liquidity risk. The company selectively uses derivative financial instruments principally to manage these risks. The aggregate notional amount of the company’s derivative positions at December 31, 2019 and 2018 is as follows: AS AT DEC. 31 Note 2019 2018 Foreign exchange (a) $ 37,334 $ 33,298 Interest rates (b) 51,619 38,490 Credit default swaps (c) 39 56 Equity derivatives (d) 2,517 1,375 Commodity instruments (e) 2019 2018 Energy (GWh) 25,136 14,752 Natural gas (MMBtu – 000’s) 78,364 63,076 a) Foreign Exchange The company held the following foreign exchange contracts with notional amounts at December 31, 2019 and 2018 : Notional Amount (U.S. Dollars) Average Exchange Rate (MILLIONS) 2019 2018 2019 2018 Foreign exchange contracts Canadian dollars $ 6,839 $ 4,959 0.75 0.76 British pounds 7,874 4,952 1.27 1.32 European Union euros 2,069 3,829 1.16 1.21 Australian dollars 3,989 3,781 0.71 0.74 Indian rupee 240 697 73.55 72.73 Chilean peso 548 615 722.08 647.37 Korean won 1 687 561 1,173 1,102 Chinese yuan 1 1,862 543 5.42 6.85 Japanese yen 1 111 404 104.58 104.45 Colombian pesos 1 534 370 3,416 2,977 Brazilian reais 484 78 0.24 0.24 Swedish krona 1,578 94 9.10 7.87 Other currencies 584 436 various various Cross currency interest rate swaps Canadian dollars 4,493 4,167 0.77 0.75 European Union euros 103 1,914 1.09 1.06 Australian dollars 2,033 1,454 0.98 1.00 Japanese yen 1 18 750 110.00 113.32 British pounds 267 257 1.49 1.49 Colombian pesos 1 100 125 3,463 3,056 Other currencies — 15 — Various Foreign exchange futures Brazilian reais 38 — 0.25 — Foreign exchange options British pounds 1,338 1,736 1.43 1.31 Chinese yuan — 500 — 7.10 Indian rupee — 500 — 67.95 European Union euros 1,544 463 1.12 1.15 Other currencies — 98 — Various 1. Average rate is quoted using USD as base currency. Included in net income are unrealized net gains on foreign currency derivative contracts amounting to $201 million ( 2018 – $457 million ) and included in the cumulative translation adjustment account in other comprehensive income are losses in respect of foreign currency contracts entered into for hedging purposes amounting to $409 million ( 2018 – gains of $1.3 billion ). b) Interest Rates At December 31, 2019 , the company held interest rate swap and forward starting swap contracts having an aggregate notional amount of $25.0 billion ( 2018 – $13.9 billion ), interest rate swaptions with an aggregate notional amount of $ nil ( 2018 – $5.3 billion ) and interest rate cap contracts with an aggregate notional amount of $26.6 billion ( 2018 – $19.3 billion ). c) Credit Default Swaps As at December 31, 2019 , the company held credit default swap contracts with an aggregate notional amount of $39 million ( 2018 – $56 million ). Credit default swaps are contracts which are designed to compensate the purchaser for any change in the value of an underlying reference asset, based on measurement in credit spreads, upon the occurrence of predetermined credit events. The company is entitled to receive payments in the event of a predetermined credit event for up to $ nil ( 2018 – $56 million ) of the notional amount and could be required to make payments in respect of $ nil ( 2018 – $ nil ) of the notional amount. d) Equity Derivatives At December 31, 2019 , the company held equity derivatives with a notional amount of $2.5 billion ( 2018 – $1.4 billion ) which includes $541 million ( 2018 – $1.1 billion ) notional amount that hedges long-term compensation arrangements. The balance represents common equity and ETF positions established in connection with the company’s investment activities. The fair value of these instruments was reflected in the company’s consolidated financial statements at year end. e) Commodity Instruments The company has entered into energy derivative contracts primarily to hedge the sale of generated power. The company endeavors to link forward electricity sale derivatives to specific periods in which it expects to generate electricity for sale. All energy derivative contracts are recorded at an amount equal to fair value and are reflected in the company’s consolidated financial statements. The company has financial contracts outstanding on 78,364,000 MMBtu’s (2018 – 63,076,000 MMBtu’s) of natural gas as part of its electricity sale price risk mitigation strategy. Other Information Regarding Derivative Financial Instruments The following table classifies derivatives elected for hedge accounting during the years ended December 31, 2019 and 2018 as either cash flow hedges or net investment hedges. Changes in the fair value of the effective portion of the hedge are recorded in either other comprehensive income or net income, depending on the hedge classification, whereas changes in the fair value of the ineffective portion of the hedge are recorded in net income: 2019 2018 FOR THE YEARS ENDED DEC. 31 (MILLIONS) Notional Effective Portion Ineffective Portion Notional Effective Portion Ineffective Portion Cash flow hedges 1 $ 32,709 $ (89 ) $ 20 $ 24,999 $ 38 $ (3 ) Net investment hedges 22,790 (433 ) 16 17,319 999 9 $ 55,499 $ (522 ) $ 36 $ 42,318 $ 1,037 $ 6 1. Notional amount does not include 14,485 GWh, 12,164 MMBtu – 000’s and 2,273 bbls – millions of commodity derivatives at December 31, 2019 ( 2018 – 6,040 GWh, 8,423 MMBtu – 000’s and 3,151 bbls – millions). The following table presents the change in fair values of the company’s derivative positions during the years ended December 31, 2019 and 2018 , for derivatives that are fair valued through profit or loss, and derivatives that qualify for hedge accounting: (MILLIONS) Unrealized Gains During 2019 Unrealized Losses During 2019 Net Change During 2019 Net Change During 2018 Foreign exchange derivatives $ 419 $ (218 ) $ 201 $ 457 Interest rate derivatives 43 (264 ) (221 ) (17 ) Credit default swaps — (1 ) (1 ) 3 Equity derivatives 24 (11 ) 13 (129 ) Commodity derivatives 56 (29 ) 27 (66 ) $ 542 $ (523 ) $ 19 $ 248 The following table presents the notional amounts underlying the company’s derivative instruments by term to maturity as at December 31, 2019 and 2018 , for derivatives that are classified as fair value through profit or loss, and derivatives that qualify for hedge accounting: 2019 2018 AS AT DEC. 31 <1 Year 1 to 5 Years >5 Years Total Notional Amount Total Notional Amount Fair value through profit or loss Foreign exchange derivatives $ 5,986 $ 1,803 $ 157 $ 7,946 $ 9,303 Interest rate derivatives 8,293 13,402 1,036 22,731 16,621 Credit default swaps 10 29 — 39 56 Equity derivatives 1,589 928 — 2,517 1,375 Commodity instruments Energy (GWh) 1,997 8,655 — 10,652 8,712 Natural gas (MMBtu – 000’s) 66,200 — — 66,200 54,653 Elected for hedge accounting Foreign exchange derivatives $ 15,935 $ 12,333 $ 1,119 $ 29,387 $ 23,995 Interest rate derivatives 6,489 18,405 3,994 28,888 21,869 Equity derivatives — — — — — Commodity instruments Energy (GWh) 7,880 4,596 2,009 14,485 6,040 Natural gas (MMBtu – 000’s) 12,164 — — 12,164 8,423

MANAGEMENT OF RISKS ARISING FRO

MANAGEMENT OF RISKS ARISING FROM HOLDING FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
MANAGEMENT OF RISKS ARISING FROM HOLDING FINANCIAL INSTRUMENTS	MANAGEMENT OF RISKS ARISING FROM HOLDING FINANCIAL INSTRUMENTS The company is exposed to the following risks as a result of holding financial instruments: market risk (i.e., interest rate risk, currency exchange risk and other price risk that impact the fair value of financial instruments), credit risk and liquidity risk. The following is a description of these risks and how they are managed: a) Market Risk Market risk is defined for these purposes as the risk that the fair value or future cash flows of a financial instrument held by the company will fluctuate because of changes in market prices. Market risk includes the risk of changes in interest rates, currency exchange rates and changes in market prices due to factors other than interest rates or currency exchange rates, such as changes in equity prices, commodity prices or credit spreads. The company manages market risk from foreign currency assets and liabilities and the impact of changes in currency exchange rates and interest rates by funding assets with financial liabilities in the same currency and with similar interest rate characteristics, and by holding financial contracts such as interest rate and foreign exchange derivatives to minimize residual exposures. Financial instruments held by the company that are subject to market risk include other financial assets, borrowings and derivative instruments such as interest rate, currency, equity and commodity contracts. i. Interest Rate Risk The observable impacts on the fair values and future cash flows of financial instruments that can be directly attributable to interest rate risk include changes in the net income from financial instruments whose cash flows are determined with reference to floating interest rates and changes in the value of financial instruments whose cash flows are fixed in nature. The company’s assets largely consist of long-duration interest-sensitive physical assets. Accordingly, the company’s financial liabilities consist primarily of long-term fixed-rate debt or floating-rate debt that has been swapped with interest rate derivatives. These financial liabilities are, with few exceptions, recorded at their amortized cost. The company also holds interest rate caps to limit its exposure to increases in interest rates on floating rate debt that has not been swapped, and holds interest rate contracts to lock in fixed rates on anticipated future debt issuances and as an economic hedge against the changes in value of long duration interest sensitive physical assets that have not been otherwise matched with fixed rate debt. The result of a 50 basis-point increase in interest rates on the company’s net floating rate financial assets and liabilities would have resulted in a corresponding decrease in net income before tax of $246 million ( 2018 – $198 million ) on a current basis. Changes in the value of fair value through profit or loss interest rate contracts are recorded in net income and changes in the value of contracts that are elected for hedge accounting are recorded in other comprehensive income. The impact of a 50 basis-point parallel increase in the yield curve on the aforementioned financial instruments is estimated to result in a corresponding increase in net income before tax of $146 million ( 2018 – $128 million ) and an increase in other comprehensive income of $309 million ( 2018 – $149 million ), for the years ended December 31, 2019 and 2018. ii. Currency Exchange Rate Risk Changes in currency rates will impact the carrying value of financial instruments denominated in currencies other than the U.S. dollar. The company holds financial instruments with net unmatched exposures in several currencies, changes in the translated value of which are recorded in net income. The impact of a 1% increase in the U.S. dollar against these currencies would have resulted in an $74 million ( 2018 – $80 million ) increase in the value of these positions on a combined basis. The impact on cash flows from financial instruments would be insignificant. The company holds financial instruments to limit its exposure to the impact of foreign currencies on its net investments in foreign operations whose functional and reporting currencies are other than the U.S. dollar. A 1% increase in the U.S. dollar would increase the value of these hedging instruments by $259 million ( 2018 – $240 million ) as at December 31, 2019 , which would be recorded in other comprehensive income and offset by changes in the U.S. dollar carrying value of the net investment being hedged. iii. Other Price Risk Other price risk is the risk of variability in fair value due to movements in equity prices or other market prices such as commodity prices and credit spreads. Financial instruments held by the company that are exposed to equity price risk include equity securities and equity derivatives. A 5% decrease in the market price of equity securities and equity derivatives held by the company, excluding equity derivatives that hedge compensation arrangements, would have decreased net income by $14 million ( 2018 – $50 million ) and decreased other comprehensive income by $70 million ( 2018 – $85 million ), prior to taxes. The company’s liability in respect of equity compensation arrangements is subject to variability based on changes in the company’s underlying common share price. The company holds equity derivatives to hedge almost all of the variability. A 5% change in the common equity price of the company in respect of compensation agreements would increase the compensation liability and compensation expense by $75 million ( 2018 – $53 million ). This increase would be offset by a $80 million ( 2018 – $53 million ) change in value of the associated equity derivatives of which $75 million ( 2018 – $51 million ) would offset the above-mentioned increase in compensation expense and the remaining $5 million ( 2018 – $2 million ) would be recorded in other comprehensive income. The company sells power and generation capacity under long-term agreements and financial contracts to stabilize future revenues. Certain of the contracts are considered financial instruments and are recorded at fair value in the consolidated financial statements, with changes in value being recorded in either net income or other comprehensive income as applicable. A 5% increase in energy prices would have decreased net income for the year ended December 31, 2019 by approximately $5 million ( 2018 – $9 million ) and decreased other comprehensive income by $ nil ( 2018 – $9 million ), prior to taxes. The corresponding increase in the value of the revenue or capacity being contracted, however, is not recorded in net income until subsequent periods. The company held credit default swap contracts with a total notional amount of $42 million ( 2018 – $63 million ) at December 31, 2019 . The company is exposed to changes in the credit spread of the contracts’ underlying reference assets. A 50 basis-point increase in the credit spread of the underlying reference assets would have increased net income by $1 million ( 2018 – $1 million ) for the year ended December 31, 2019 , prior to taxes. b) Credit Risk Credit risk is the risk of loss due to the failure of a borrower or counterparty to fulfill its contractual obligations. The company’s exposure to credit risk in respect of financial instruments relates primarily to counterparty obligations regarding derivative contracts, loans receivable and credit investments such as bonds and preferred shares. The company assesses the creditworthiness of each counterparty before entering into contracts with a view to ensuring that counterparties meet minimum credit quality requirements. Management evaluates and monitors counterparty credit risk for derivative financial instruments and endeavors to minimize counterparty credit risk through diversification, collateral arrangements, and other credit risk mitigation techniques. The credit risk of derivative financial instruments is generally limited to the positive fair value of the instruments, which, in general, tends to be a relatively small proportion of the notional value. Substantially all of the company’s derivative financial instruments involve either counterparties that are banks or other financial institutions in North America, the United Kingdom and Australia, or arrangements that have embedded credit risk mitigation features. The company does not expect to incur credit losses in respect of any of these counterparties. The maximum exposure in respect of loans receivable and credit investments is equal to the carrying value. c) Liquidity Risk Liquidity risk is the risk that the company cannot meet a demand for cash or fund an obligation as it comes due. Liquidity risk also includes the risk of not being able to liquidate assets in a timely manner at a reasonable price. To help ensure the company is able to react to contingencies and investment opportunities quickly, the company maintains sources of liquidity at the corporate and subsidiary levels. The primary source of liquidity consists of cash and other financial assets, net of deposits and other associated liabilities, and undrawn committed credit facilities. The company is subject to the risks associated with debt financing, including the ability to refinance indebtedness at maturity. The company believes these risks are mitigated through the use of long-term debt secured by high quality assets, maintaining debt levels that are in management’s opinion relatively conservative, and by diversifying maturities over an extended period of time. The company also seeks to include in its agreements terms that protect the company from liquidity issues of counterparties that might otherwise impact the company’s liquidity. The following tables present the contractual maturities of the company’s financial liabilities at December 31, 2019 and 2018 . Payments Due by Period AS AT DEC. 31, 2019 <1 Year 1 to 3 Years 4 to 5 Years After 5 Years Total Principal repayments Corporate borrowings $ — $ 269 $ 1,597 $ 5,217 $ 7,083 Non-recourse borrowings of managed entities 15,563 28,396 34,602 57,731 136,292 Subsidiary equity obligations 188 1,677 745 1,522 4,132 Interest expense 1 Corporate borrowings 327 629 551 1,714 3,221 Non-recourse borrowings 5,210 8,524 6,641 7,749 28,124 Subsidiary equity obligations 151 261 212 107 731 Lease Obligations 2 766 1,171 992 11,064 13,993 1. Represents the aggregated interest expense expected to be paid over the term of the obligations. Variable interest rate payments have been calculated based on current rates. 2. The lease obligations as disclosed in the table above include leases that are classified as finance leases, short-term leases, low-value leases and variable lease payments not based on an index or rate, which are immaterial. Payments Due by Period AS AT DEC. 31, 2018 <1 Year 1 to 3 Years 4 to 5 Years After 5 Years Total Principal repayments Corporate borrowings $ 440 $ 257 $ 441 $ 5,271 $ 6,409 Non-recourse borrowings of managed entities 11,159 34,055 24,633 41,962 111,809 Subsidiary equity obligations 185 1,417 356 1,918 3,876 Interest expense 1 Corporate borrowings 278 535 504 1,697 3,014 Non-recourse borrowings 5,126 8,124 5,820 7,324 26,394 Subsidiary equity obligations 151 307 218 209 885 1. Represents the aggregated interest expense expected to be paid over the term of the obligations. Variable interest rate payments have been calculated based on current rates.

CAPITAL MANAGEMENT

CAPITAL MANAGEMENT	12 Months Ended
CAPITAL MANAGEMENT	Dec. 31, 2019
Disclosure of objectives, policies and processes for managing capital [abstract]
CAPITAL MANAGEMENT	CAPI TAL MANAGEMENT The capital of the company consists of the components of equity in the company’s consolidated balance sheet (i.e., common and preferred equity). As at December 31, 2019 , the recorded values of these items in the company’s consolidated financial statements totaled $35.0 billion ( 2018 – $29.8 billion ). The company’s objectives when managing this capital are to maintain an appropriate balance between holding a sufficient amount of capital to support its operations, which includes maintaining investment-grade ratings at the corporate level and providing shareholders with a prudent amount of corporate debt to enhance returns. Corporate debt, which includes subsidiary obligations that are guaranteed by the company or are otherwise considered corporate in nature, totaled $7.1 billion based on carrying values at December 31, 2019 ( 2018 – $6.4 billion ). The company monitors its capital base and leverage primarily in the context of its deconsolidated debt-to-total capitalization ratios. The ratio as at December 31, 2019 was 15% ( 2018 – 17% ). The consolidated capitalization of the company includes the capital and financial obligations of consolidated entities, including long-term property-specific borrowings, subsidiary borrowings, capital securities as well as common and preferred equity held by other investors in these entities. The capital in these entities is managed at the entity level with oversight by management of the company. The capital is managed with the objective of maintaining investment-grade levels in most circumstances and is, except in limited and carefully managed circumstances, without any recourse to the company. Management of the company also takes into consideration capital requirements of consolidated and non-consolidated entities in which it has interests in when considering the appropriate level of capital and liquidity on a deconsolidated basis. The company is subject to limited covenants in respect of its corporate debt and is in full compliance with all such covenants as at December 31, 2019 and 2018 . The company is also in compliance with all covenants and other capital requirements related to regulatory or contractual obligations of material consequence to the company.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2019
Related party transactions [abstract]
Disclosure of related party [text block]	RELATED PARTY TRANSACTIONS a) Related Parties Related parties include subsidiaries, associates, joint ventures, key management personnel, the Board of Directors (“Directors”), immediate family members of key management personnel and Directors and entities which are directly or indirectly controlled by, jointly controlled by or significantly influenced by key management personnel, Directors or their close family members. b) Key Management Personnel and Directors Key management personnel are those individuals who have the authority and responsibility for planning, directing and controlling the company’s activities, directly or indirectly, and consist of the company’s Senior Executives. The company’s Directors do not plan, direct or control the activities of the company directly; they provide oversight over the business. The remuneration of key management personnel and Directors of the company during the years ended December 31, 2019 and 2018 was as follows: FOR THE YEARS ENDED DEC. 31 2019 2018 Salaries, incentives and short-term benefits $ 19 $ 21 Share-based payments 46 90 $ 65 $ 111 The remuneration of key management personnel and Directors is determined by the Management Resources and Compensation Committee of the Board of Directors having regard to the performance of individuals and market funds. c) Related Party Transactions In the normal course of operations, the company executes transactions on market terms with related parties that have been measured at exchange value and are recognized in the consolidated financial statements, including, but not limited to: base management fees, performance fees and incentive distributions; loans, interest and non-interest bearing deposits; power purchase and sale agreements; capital commitments to private funds; the acquisition and disposition of assets and businesses; derivative contracts; and the construction and development of assets. Transactions and balances between consolidated entities are fully eliminated upon consolidation. The following table lists the related party balances included within the consolidated financial statements for the years ended December 31, 2019 and 2018 : FOR THE YEARS ENDED DEC. 31 2019 2018 Management fees received $ 97 $ 56

OTHER INFORMATION

OTHER INFORMATION	12 Months Ended
OTHER INFORMATION	Dec. 31, 2019
Additional information [abstract]
OTHER INFORMATION	OTHER INFORMATION a) Guarantees and Contingencies In the normal course of business, the company enters into contractual obligations which include commitments to provide bridge financing, letters of credit, guarantees and reinsurance obligations. As at December 31, 2019 , the company had $4.1 billion ( 2018 – $3.1 billion ) of such commitments outstanding. In addition, the company executes agreements that provide for indemnifications and guarantees to third parties in transactions or dealings such as business dispositions, business acquisitions, sales of assets, provision of services, securitization agreements and underwriting and agency agreements. The company has also agreed to indemnify its directors and certain of its officers and employees. The nature of substantially all of the indemnification undertakings prevents the company from making a reasonable estimate of the maximum potential amount the company could be required to pay third parties, as in most cases, the agreements do not specify a maximum amount, and the amounts are dependent upon the outcome of future contingent events, the nature and likelihood of which cannot be determined at this time. Neither the company nor its consolidated subsidiaries have made significant payments in the past nor do they expect at this time to make any significant payments under such indemnification agreements in the future. The company periodically enters into joint ventures, consortium or other arrangements that have contingent liquidity rights in favor of the company or its counterparties. These include buy sell arrangements, registration rights and other customary arrangements that generally have embedded protective terms that mitigate the risk to us. The amount, timing and likelihood of any payments by the company under these arrangements is, in most cases, dependent on either further contingent events or circumstances applicable to the counterparty and therefore cannot be determined at this time. The company is contingently liable with respect to litigation and claims that arise in the normal course of business. It is not reasonably possible that any of the ongoing litigation as at December 31, 2019 could result in a material settlement liability. The company has insurance for damage and business interruption costs sustained as a result of an act of terrorism. The amount of coverage is reviewed on an individual basis and can range up to $4 billion . However, a terrorist act could have a material effect on the company’s assets to the extent damages exceed coverage. The company, through its subsidiaries within the residential properties operations, is contingently liable for obligations of its associates in its land development joint ventures. In each case, all of the assets of the joint venture are available first for the purpose of satisfying these obligations, with the balance shared among the participants in accordance with predetermined joint venture arrangements. The Corporation has entered into arrangements with respect to the $1.8 billion of exchangeable preferred equity units issued by BPY discussed in Note 19, which are redeemable in equal tranches of $600 million in 2021, 2024 and 2026, respectively. The preferred equity units are exchangeable into equity units of BPY at $25.70 per unit, at the option of the holder, at any time up to and including the maturity date. BPY may redeem the preferred equity units after specified periods if the BPY equity unit price exceeds predetermined amounts. At maturity, the preferred equity units will be converted into BPY equity units at the lower of $25.70 or the then market price of a BPY equity unit. In order to provide the purchaser with enhanced liquidity, the Corporation has agreed to purchase the preferred equity units for cash at the option of the holder, for the initial purchase price plus accrued and unpaid dividends. In order to decrease dilution risk to BPY, the Corporation has agreed with the holder and BPY that if the price of a BPY equity unit is less than 80% of the exchange price of $25.70 at the redemption date of the 2021 and 2024 tranches, the Corporation will acquire the preferred equity units subject to redemption, at the redemption price, and to exchange these preferred equity units for preferred equity units with similar terms and conditions, including redemption date, as the 2026 tranche. b) Supplemental Cash Flow Information During the year, the company capitalized $233 million ( 2018 – $176 million ) of interest primarily to investment properties and residential inventory under development.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2019
Disclosure of non-adjusting events after reporting period [abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On February 21, 2020, the company completed the public offering of $600 million notes due 2050. The notes have a coupon of 3.45% . The net proceeds from the issuance was partially used in exercising the right to redeem the $269 million (C $350 million ), 5.30% notes outstanding, due on March 1, 2021. Subsequent to December 31, 2019, the Board of Directors also approved a three-for-two stock split of the company’s outstanding Class A Shares. The stock dividend will be payable on April 1, 2020 to shareholders of record at the close of business on February 28, 2020. Fractional shares will be paid in cash based on the closing price of the Class A Shares on the Toronto Stock Exchange on the record date. Subsequent to December 31, 2019, financial markets have been negatively impacted by the novel Coronavirus or COVID-19 pandemic, which has resulted in economic uncertainty. The company is not able to predict or forecast the extent and duration of the economic uncertainty, and consequently, it is difficult to reliably measure the potential impact of this uncertainty on future financial results.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2019
Disclosure of Significant Accounting Policies [Abstract]
Statement of Compliance	Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These financial statements were authorized for issuance by the Board of Directors of the company on March 26, 2020.
Description of accounting policies for recently adopted accounting standards	b) Adoption of Accounting Standards The company has applied new and revised standards issued by the IASB that are effective for the period beginning on or after January 1, 2019 . The new standards were applied as follows: i. Leases The company adopted IFRS 16 Leases (“IFRS 16”) effective January 1, 2019. IFRS 16 gives prescriptive guidance on the recognition, measurement, presentation and disclosure of leases. This standard supersedes IAS 17 Leases (“IAS 17”) and related interpretations. The company adopted the standard using a modified retrospective approach, whereby any transitional impact is recorded in equity as at January 1, 2019 and comparative periods are not restated. Please refer to the Transition Impact below for more information. Under IFRS 16, the company must assess whether a contract is, or contains, a lease at inception of the contract. A contract is, or contains, a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control exists if a customer can make the important decisions governing the use of an asset specified in a contract similar to decisions made over assets owned by the business. The company has elected to not allocate contract consideration between lease and non-lease components, but rather account for each lease and non-lease component as a single lease component. This election is made by asset class. Accounting for lessors remains largely unchanged and the distinction between operating and finance leases is retained. For lessors, a lease shall be classified as either a finance or operating lease on commencement of the lease contract. If the contract represents a finance lease in which the risk and rewards of ownership have transferred to the lessee, a lessor shall recognize a finance lease receivable at an amount equal to the net investment in the lease discounted using the interest rate implicit in the lease. Subsequently, finance income is recognized at a constant rate on the net investment of the finance lease. Lease payments received from operating leases shall be recognized into income on a straight-line or other systematic basis. For lessees, the distinction between operating and finance leases is eliminated. The company recognizes a right-of-use (“ROU”) asset and lease liability at the lease commencement date. The ROU asset is initially measured based on the calculated lease liability plus initial direct costs incurred by the lessee, estimates to dismantle and restore the underlying asset at the end of the lease term and lease payments made net of incentives received at or before the lease commencement date. It is classified as either investment property, property, plant and equipment (“PP&E”), or inventory depending on the nature of the asset and is subsequently accounted for consistently with owned assets within the respective asset classes with the exception of PP&E. Unlike most of the company’s owned assets within PP&E, lease assets classified within PP&E are subsequently measured applying the cost method rather than the revaluation method. The ROU asset is depreciated applying a straight-line method or other systematic basis over the shorter of the useful life of the underlying asset or the term of the lease. Lease contracts often include an option to extend the term of the lease and such extensions are factored into the lease term if the company is reasonably certain to exercise that option. ROU assets are tested for impairment in accordance with IAS 36 Impairment of Assets . Refer to section (d) below for additional details of our accounting policies governing investment property, PP&E and inventory. Lease liabilities are classified within accounts payable and other and are recognized at the commencement of the lease, initially measured at the present value of future lease payments not paid as at the commencement date, discounted using the interest rate implicit in the lease, or the lessee’s incremental borrowing rate if the implicit rate cannot be readily determined. Lease liabilities are subsequently measured at amortized cost by applying the effective interest method. Lease liabilities are remeasured if there is reassessment of the timing or amount of future lease payments arising from a change in an index or rate, revisions to estimates of the lease term or residual value guarantee, or a change in the assessment of an option to purchase the underlying asset. Such remeasurements of the lease liability are generally recognized as an adjustment to the ROU asset unless further reduction in the measurement of the lease liability would reduce a ROU asset below zero in which case it is recorded in the Consolidated Statements of Operations. We are applying certain practical expedients as permitted by the standard; specifically, we have elected to apply practical expedients associated with short-term and low-value leases that allow the company to record operating expenses on such leases on a straight-line basis without having to capitalize the lease arrangement. In addition, as required by the standard, variable lease payments that are not dependent on an index or rate are expensed as incurred. We have also applied a number of critical judgments in applying this standard, including: i) identifying whether a contract (or part of a contract) includes a lease; ii) determining whether it is reasonably certain that lease extension or termination options will be exercised in determining the lease term; and iii) determining whether variable payments are in-substance fixed. Critical estimates used in the application of IFRS 16 include estimating the lease term and determining the appropriate rate at which to discount the lease payments. Transition Impact The company adopted IFRS 16 using the modified retrospective approach, whereby any transitional impact is recorded in equity as at January 1, 2019, and comparative periods are not restated and comply with the legacy IAS 17 and related standards. The company has measured the opening ROU assets at an amount equal to the corresponding lease liabilities, adjusted by any prepaid or accrued lease payments relating to that lease recognized prior to the adoption. In addition, the company has applied certain transition expedients as permitted by the standard, including the application of a single discount rate to a portfolio of leases with reasonably similar characteristics, adjusting the ROU assets by the amount of any provision for onerous leases recognized under IAS 37 and accounting for leases with remaining terms of less than 12 months as of January 1, 2019, regardless of the full life of the lease, as short-term leases. There are no adjustments to opening equity. The difference between the operating lease commitments disclosed applying IAS 17 as at December 31, 2018 and the amount recorded as a transition adjustment relates primarily to the impact of discounting the future lease payments to their present value using incremental borrowing rates, short-term and low-value leases which are expensed as incurred, adjustments as a result of different treatment for extension and termination options and variable lease payments relating to changes in indices or rates. The weighted-average incremental borrowing rate as at January 1, 2019 used to measure lease liabilities is approximately 5%. The impact of adopting IFRS 16 on our balance sheet is as follows: (MILLIONS) Balance at Dec. 31, 2018 IFRS 16 Adjustments Balance at Jan. 1, 2019 Assets Inventory $ 6,989 $ 22 $ 7,011 Investment properties 84,309 928 85,237 Property, plant and equipment 67,294 3,416 70,710 Other assets 97,689 — 97,689 Total assets $ 256,281 $ 4,366 $ 260,647 Liabilities Accounts payable and other $ 23,989 $ 4,366 $ 28,355 Other liabilities 135,142 — 135,142 Total liabilities 159,131 4,366 163,497 Equity Preferred equity 4,168 — 4,168 Non-controlling interests 67,335 — 67,335 Common equity 25,647 — 25,647 Total equity 97,150 — 97,150 Total liabilities and equity $ 256,281 $ 4,366 $ 260,647 The company recognized ROU assets and lease liabilities of approximately $4.4 billion as at January 1, 2019. The changes relate primarily to : • investment property ground leases of $928 million on certain buildings classified as investment properties within our Real Estate segment; and • leases of ROU property, plant and equipment of $3.4 billion across our operating segments, including wind farm ground leases in our renewable power operations, ports in our infrastructure operations, hospitality assets in our real estate operations, fuel tanks and other equipment leases in certain of our private equity operations as well as various corporate office leases. Included in our interest expense for the year ended December 31, 2019 was $206 million related to interest on lease liabilities. We also reported depreciation of $459 million on our ROU assets as well as $63 million of fair value gains on ROU investment properties. ii. Uncertainty Over Income Tax Treatments In June 2017, the IASB published IFRIC 23 Uncertainty over Income Tax Treatments (“IFRIC 23”), effective for annual periods beginning on or after January 1, 2019. The interpretation requires an entity to assess whether it is probable that a tax authority will accept an uncertain tax treatment used, or proposed to be used, by an entity in its income tax filings and to exercise judgment in determining whether each tax treatment should be considered independently or whether some tax treatments should be considered together. The decision should be based on which approach provides better predictions of the resolution of the uncertainty. An entity also has to consider whether it is probable that the relevant authority will accept each tax treatment, or group of tax treatments, assuming that the taxation authority with the right to examine any amounts reported to it will examine those amounts and will have full knowledge of all relevant information when doing so. The interpretation has been applied on a modified retrospective basis without restatement of comparative information. There was no material impact on the company’s 2019 consolidated financial statements. iii. Business Combinations In October 2018, the IASB issued an amendment to IFRS 3 Business Combinations (“IFRS 3”), effective for annual periods beginning on or after January 1, 2020 with early adoption permitted. The amendment clarifies that a business must include, at minimum, an input and a substantive process that together contribute to the ability to create outputs, and assists companies in determining whether an acquisition is a business combination or an acquisition of a group of assets by providing supplemental guidance for assessing whether an acquired process is substantive. The company has decided to early adopt the amendments to IFRS 3 effective January 1, 2019 and applied the amended standard in assessing business combinations on a prospective basis. For acquisitions that are determined to be acquisitions of assets as opposed to business combinations, the company allocates the transaction price to the individual identifiable assets acquired and liabilities assumed on the basis of their relative fair values, and no goodwill is recognized. Acquisitions that continue to meet the definition of a business combination are accounted for under the acquisition method, without any changes to the company’s accounting policy. There was no material impact on the company’s 2019 consolidated financial statements. iv. Interest Rate Benchmark Reform The company adopted Interest Rate Benchmark Reform – Amendments to IFRS 9 and IFRS 7, issued in September 2019, (“IBOR Amendments”) effective October 1, 2019 in advance of its mandatory effective date. The IBOR Amendments have been applied retrospectively to hedging relationships existing at October 1, 2019 or were designated subsequently, and to the amount accumulated in the cash flow hedge reserve at that date. The IBOR Amendments provide temporary relief from applying specific hedge accounting requirements to the company’s hedging relationships which are directly affected by IBOR reform, which primarily include US$ LIBOR, £ LIBOR, and € EURIBOR. The reliefs have the effect that IBOR reform should not generally cause hedge accounting to terminate. In assessing whether a hedge is expected to be highly effective on a forward-looking basis, the company assumes the interest rate benchmark on which the cash flows of the derivative which hedges borrowings is not altered by IBOR reform. These reliefs cease to apply to a hedged item or hedging instrument as applicable at the earlier of: (i) when the uncertainty arising from IBOR reform is no longer present with respect to the timing and amount of the interest rate benchmark-based future cash flows; and (ii) when the hedging relationship is discontinued. There was no material impact on the company’s 2019 consolidated financial statements.
Disclosure of expected impact of initial application of new standards or interpretations [text block]	c) Future Changes in Accounting Standards i. Insurance Contracts In May 2017, the IASB published IFRS 17, Insurance Contracts (“IFRS 17”), which establishes principles for the recognition, measurement, presentation and disclosure of insurance contracts. IFRS 17 will replace IFRS 4, Insurance Contracts . In November 2018, the IASB proposed to defer the effective date of IFRS 17 for insurers that elected the temporary exemption to be annual periods beginning on or after January 1, 2022. IFRS 17 requires insurance contract liabilities to be measured at a current fulfillment value and provides a more uniform measurement and presentation approach for all insurance contracts. The company is currently assessing the impact of IFRS 17 on its operations.
Description of accounting policy for subsidiaries [text block]	i. Subsidiaries The consolidated financial statements include the accounts of the company and its subsidiaries, which are the entities over which the company exercises control. Control exists when the company is able to exercise power over the investee, is exposed to variable returns from its involvement with the investee and has the ability to use its power over the investee to affect the amount of its returns. Subsidiaries are consolidated from the date control is obtained and continue to be consolidated until the date when control is lost. The company includes 100% of its subsidiaries’ revenues and expenses in the Consolidated Statements of Operations and 100% of its subsidiaries’ assets and liabilities on the Consolidated Balance Sheets, with non-controlling interests in the equity of the company’s subsidiaries included within the company’s equity. All intercompany balances, transactions, unrealized gains and losses are eliminated in full. The company continually reassesses whether or not it controls an investee, particularly if facts and circumstances indicate there is a change to one or more of the control criteria previously mentioned. In certain circumstances when the company has less than a majority of the voting rights of an investee, it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The company considers all relevant facts and circumstances in assessing whether or not the company’s voting rights are sufficient to give it control of an investee. Certain of the company’s subsidiaries are subject to profit sharing arrangements, such as carried interest, between the company and the non-controlling equity holders, whereby the company is entitled to a participation in profits, as determined under the agreements. The attribution of net income amongst equity holders in these subsidiaries reflects the impact of these profit sharing arrangements when the attribution of profits as determined in the agreement is no longer subject to adjustment based on future events and correspondingly reduces non-controlling interests ’ attributable share of those profits. Gains or losses resulting from changes in the company’s ownership interest of a subsidiary that do not result in a loss of control are accounted for as equity transactions and are recorded within ownership changes as a component of equity. When we dispose of all or part of a subsidiary resulting in a loss of control, the difference between the carrying value of what is sold and the proceeds from disposition is recognized within other income and gains in the Consolidated Statements of Operations. Refer to Note 2(r) for an explanation of the company’s accounting policy for business combinations and to Note 4 for additional information on subsidiaries of the company with significant non-controlling interests.
Description of accounting policy for investment in associates and joint ventures [text block]	ii. Associates and Joint Ventures Associates are entities over which the company exercises significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but without control or joint control over those policies. Joint ventures are joint arrangements whereby the parties that have joint control of the arrangement have the rights to the net assets of the joint arrangement. Joint control is the contractually agreed sharing of control over an arrangement, which exists only when decisions about the relevant activities require unanimous consent of the parties sharing control. The company accounts for associates and joint ventures using the equity method of accounting within equity accounted investments on the Consolidated Balance Sheets. Interests in associates and joint ventures accounted for using the equity method are initially recognized at cost. At the time of initial recognition, if the cost of the associate or joint venture is lower than the proportionate share of the investment’s underlying fair value, the company records a gain on the difference between the cost and the underlying fair value of the investment in net income. If the cost of the associate or joint venture is greater than the company’s proportionate share of the underlying fair value, goodwill relating to the associate or joint venture is included in the carrying amount of the investment. Subsequent to initial recognition, the carrying value of the company’s interest in an associate or joint venture is adjusted for the company’s share of comprehensive income and distributions of the investee. Profit and losses resulting from transactions with an associate or joint venture are recognized in the consolidated financial statements based on the interests of unrelated investors in the investee. The carrying value of associates or joint ventures is assessed for impairment at each balance sheet date. Impairment losses on equity accounted investments may be subsequently reversed in net income. Further information on the impairment of long-lived assets is available in Note 2(m).
Description of accounting policy for investments in joint operations [Text Block]	iii. Joint Operations A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, related to the arrangement. Joint control is the contractually agreed sharing of control of an arrangement which exists only when decisions about the relevant activities require unanimous consent of parties sharing control. The company recognizes only its assets, liabilities and share of the results of operations of the joint operation. The assets, liabilities and results of joint operations are included within the respective line items of the Consolidated Balance Sheets, Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income.
Description of accounting policy for foreign currency translation [text block]	e) Foreign Currency Translation The U.S. dollar is the functional and presentation currency of the company. Each of the company’s subsidiaries, associates, joint ventures and joint operations determines its own functional currency and items included in the consolidated financial statements of each subsidiary, associate, joint venture and joint operation are measured using that functional currency. Assets and liabilities of foreign operations having a functional currency other than the U.S. dollar are translated at the rate of exchange prevailing at the reporting date and revenues and expenses at average rates during the period. Gains or losses on translation are accumulated as a component of equity. On the disposal of a foreign operation, or the loss of control, joint control or significant influence, the component of accumulated other comprehensive income relating to that foreign operation is reclassified to net income. Gains or losses on foreign currency denominated balances and transactions that are designated as hedges of net investments in these operations are reported in the same manner. Foreign currency denominated monetary assets and liabilities of the company are translated using the rate of exchange prevailing at the reporting date and non-monetary assets and liabilities measured at fair value are translated at the rate of exchange prevailing at the date when the fair value was determined. Revenues and expenses are measured at average rates during the period. Gains or losses on translation of these items are included in net income. Gains or losses on transactions which hedge these items are also included in net income. Foreign currency denominated non-monetary assets and liabilities, measured at historic cost, are translated at the rate of exchange at the transaction date.
Description of accounting policy for determining components of cash and cash equivalents [text block]	f) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits and highly liquid short-term investments with original maturities of three months or less.
Description of accounting policy for transactions with related parties [text block]	g) Related Party Transactions In the normal course of operations, the company enters into various transactions on market terms with related parties. The majority of transactions with related parties are between consolidated entities and eliminate on consolidation. The company and its subsidiaries may also transact with entities over which the company has significant influence or joint control. Amounts owed to and by associates and joint ventures are not eliminated on consolidation. The company’s subsidiaries with significant non-controlling interests are described in Note 4 and its associates and joint ventures are described in Note 10. In addition to our subsidiaries and equity accounted investments, we consider key management personnel, the Board of Directors and material shareholders to be related parties. See additional details in Note 28.
Description of accounting policy for investment property [text block]	i. Investment Properties The company uses the fair value method to account for real estate classified as investment properties. A property is determined to be an investment property when it is principally held either to earn rental income or for capital appreciation, or both. Investment properties also include properties that are under development or redevelopment for future use as investment property. Investment properties are initially measured at cost including transaction costs , or at fair value if acquired in a business combination . Subsequent to initial recognition, investment properties are carried at fair value. Gains or losses arising from changes in fair value are included in net income during the period in which they arise. Fair values are completed by undertaking one of two accepted approaches: (i) discounting the expected future cash flows, generally over a term of 10 years including a terminal value based on the application of a capitalization rate to estimated year 11 net operating income, typically used for our office, retail and logistics assets; or (ii) undertaking a direct capitalization approach for certain of our LP investments and directly held multifamily assets whereby a capitalization rate is applied to estimated stabilized annual net operating income. The future cash flows of each property are based upon, among other things, rental income from current leases and assumptions about rental income from future leases reflecting current conditions, less future cash outflows relating to such current and future leases. Commercial developments are also measured using a discounted cash flow model, net of costs to complete, as of the balance sheet date. Development sites in the planning phases are carried at cost.
Description of accounting policy for property, plant and equipment [text block]	ii. Property, Plant and Equipment The company uses the revaluation method of accounting for certain classes of property, plant and equipment as well as certain assets which are under development for future use as property, plant and equipment. Property, plant and equipment measured using the revaluation method is initially measured at cost , or at fair value if acquired in a business combination, and subsequently carried at its revalued amount, being the fair value at the date of the revaluation less any subsequent accumulated depreciation and any accumulated impairment losses. Revaluations are performed on an annual basis at the end of each fiscal year, commencing in the first year subsequent to the date of acquisition, unless there is an indication that assets are impaired. Where the carrying amount of an asset increases as a result of a revaluation, the increase is recognized in other comprehensive income and accumulated in equity in revaluation surplus, unless the increase reverses a previously recognized revaluation loss recorded through net income, in which case that portion of the increase is recognized in net income. Where the carrying amount of an asset decreases, the decrease is recognized in other comprehensive income to the extent of any balance existing in revaluation surplus in respect of the asset, with the remainder of the decrease recognized in net income. Depreciation of an asset commences when it is available for use. On loss of control or partial disposition of an asset measured using the revaluation method, all accumulated revaluation surplus or the portion disposed of, respectively, is transferred into retained earnings or ownership changes, respectively. Property, plant and equipment held in our Private Equity segment is measured at cost. Land is carried at cost whereas finite-life assets such as buildings and equipment are carried at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on a systematic basis over the assets’ useful life. Depreciation methods and useful lives are reassessed at least annually regardless of the measurement method used. Renewable Power Renewable power generating assets, including assets under development, are classified as property, plant and equipment and are accounted for using the revaluation method. The company determines the fair value of its renewable power generating assets using discounted cash flow analysis, which includes estimates of forecasted revenue, operating costs, maintenance and other capital expenditures. Discount rates are selected for each facility giving consideration to the expected proportion of contracted to uncontracted revenue and markets into which power is sold. For perpetual assets, such as many of our hydroelectric facilities, the first 20 years of cash flow are discounted with a residual value based on the terminal value cash flows. For assets with finite lives, which include wind and solar farms, the company discounts projected cash flows over the assets’ estimated remaining service lives. The fair value and estimated remaining service lives are reassessed on an annual basis. Depreciation on renewable power generating assets is calculated on a straight-line basis over the estimated service lives of the assets, which are as follows: (YEARS) Useful Lives Dams Up to 115 Penstocks Up to 60 Powerhouses Up to 115 Hydroelectric generating units Up to 115 Wind generating units Up to 41 Solar generating units Up to 30 Gas-fired cogenerating (“Cogeneration”) units Up to 40 Other assets Up to 60 Cost is allocated to the significant components of power generating assets and each component is depreciated separately. The depreciation of property, plant and equipment in our Brazilian renewable power operations is based on the duration of the authorization or the useful life of a concession. The weighted-average remaining duration at December 31, 2019 is 32 years ( 2018 – 29 years ). Land rights are included as part of the concession or authorization and are subject to depreciation. Infrastructure Utilities, tran sport, communication and energy assets within our infrastructure operations as well as assets under development classified as property, plant and equipment on the Consolidated Balance Sheets are accounted for using the revaluation method. The company determines the fair value of its utilities, transport, energy and data infrastructure assets using discounted cash flow analyses, which include estimates of forecasted revenue, operating costs, maintenance and other capital expenditures. Valuations are performed internally on an annual basis. Discount rates are selected for each asset, giving consideration to the volatility and geography of its revenue streams. Depreciation on utilities, transport, energy and data infrastructure assets i s calculated on a straight-line or declining balance basis over the estimated service lives of the components of the assets, which are as follows: (YEARS) Useful Lives Buildings Up to 75 Transmission stations, towers and related fixtures Up to 40 Leasehold improvements Up to 50 Plant and equipment Up to 40 Network systems Up to 65 Track Up to 40 District energy systems Up to 50 Gas storage assets Up to 50 The fair value and the estimated remaining service lives are reassessed annually. Public service concessions that provide the right to charge users for a service in which the service and fee is regulated by the grantor are accounted for as intangible assets. In our sustainable resources operations, land used in the production of standing timber, as well as bridges and roads used in sustainable resources production, are accounted for using the revaluation method and included in property, plant and equipment. Bridges, roads and equipment are depreciated over their useful lives, generally 3 to 30 years. Real Estate – Hospitality Assets Hospitality operating assets within our real estate operations are classified as property, plant and equipment and are accounted for using the revaluation method. The company determines the fair value for these assets by using a depreciated replacement cost method based on the age, physical condition and the construction costs of the assets. Fair value of hospitality properties are also reviewed in reference to each hospitality asset’s enterprise value which is determined using a discounted cash flow model. Depreciation on hospitality assets is calculated on a straight-line basis over the estimated useful lives of each component of the asset as follows: (YEARS) Useful Lives Building and building improvements 5 to 60 Land improvements 14 to 15 Furniture, fixtures and equipment 2 to 15 Private Equity The company accounts for its private equity property, plant and equipment using the cost model. Costs include expenditures that are directly attributable to the acquisition of the asset. Depreciation of an asset commences when it is available for use. PP&E is depreciated for each component of the following asset classes as follows: On a straight-line basis (YEARS) Useful Lives Buildings Up to 50 Leasehold improvements Up to 40 Machinery and equipment Up to 20 Vessels Up to 35 Not on a straight-line basis Useful Lives Oil and gas related equipment Units of production
Description of accounting policy for measuring inventories [text block]	iii. Inventory Private Equity Fuel inventories within our Private Equity segment are traded in active markets and are purchased with the view to resell in the near future, generating a profit from fluctuations in prices or margins. As a result, fuel inventories are carried at market value by reference to prices in a quoted active market, in accordance with the commodity broker-trader exemption granted by IAS 2, Inventories . Changes in fair value less costs to sell are recognized in direct costs. Fuel products that are held for extended periods in order to benefit from future anticipated increases in fuel prices or located in territories where no active market exists are recognized at the lower of cost and net realizable value. Products and chemicals used in the production of biofuels are valued at the lower of cost and net realizable value. Real Estate Residential development lots, homes and residential condominium projects are recorded in inventory. Residential development lots are recorded at the lower of cost, which includes pre-development expenditures and capitalized borrowing costs and net realizable value, which the company determines as the estimated selling price of the inventory in the ordinary course of business in its completed state, less estimated expenses, including holding costs, costs to complete and costs to sell. Homes and other properties held for sale, which include properties subject to sale agreements, are recorded at the lower of cost and net realizable value in inventory. Costs are allocated to the salable acreage of each project or subdivision in proportion to the anticipated revenue. Residential Development Inventories consist of land held for development, land under development, homes under construction, completed homes and model homes. In addition to direct land acquisitions, land development and improvement costs and home construction costs, costs also include interest, real estate taxes and direct overhead related to development and construction, which are capitalized to inventory during the period beginning with the commencement of development and ending with the completion of construction or development. Indirect costs are allocated to homes or lots based on the number of units in a community. Land and housing assets are recorded at the lower of cost and net realizable value, which the company determines as the estimated selling price of the inventory in the ordinary course of business in its completed state, less estimated expenses, including holding costs, costs to complete and costs to sell.
Description of accounting policy for fair value measurement [text block]	i) Fair Value Measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the company takes into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. Fair value measurement is disaggregated into three hierarchical levels: Level 1, 2 or 3. Fair value hierarchical levels are directly based on the degree to which the inputs to the fair value measurement are observable. The levels are as follows: Level 1 – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 – Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the asset or liability’s anticipated life. Level 3 – Inputs are unobservable and reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs in determining the estimate. Refer to the investment properties and revaluation of property, plant and equipment explanations for the approach taken to determine the fair value of these operating assets. Further information on fair value measurements is available in Notes 6, 7, 11 and 12.
Description of accounting policy for impairment of assets [text block]	m) Impairment of Long-Lived Assets At each balance sheet date or more often if events or circumstances indicate there may be impairment, the company assesses whether its assets, other than those measured at fair value with changes in value recorded in net income, have any indication of impairment. An impairment is recognized if the recoverable amount, determined as the higher of the estimated fair value less costs of disposal and the discounted future cash flows generated from use and eventual disposal from an asset or cash-generating unit, is less than their carrying value. Impairment losses are recorded as fair value changes within the Consolidated Statements of Operations. The projections of future cash flows take into account the relevant operating plans and management’s best estimate of the most probable set of conditions anticipated to prevail. Where an impairment loss subsequently reverses, the carrying amount of the asset or cash-generating unit is increased to the lesser of the revised estimate of its recoverable amount and the carrying amount that would have been recorded had no impairment loss been recognized previously.
Description of accounting policy for trade and other receivables [text block]	j) Accounts Receivable Trade receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method, less an allowance for expected credit losses for uncollectability.
Description of accounting policy for intangible assets other than goodwill [text block]	k) Intangible Assets Finite life intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses and are amortized on a straight-line basis over their estimated useful lives. Amortization is recorded within depreciation and amortization in the Consolidated Statements of Operations. Certain of the company’s intangible assets have an indefinite life as there is no foreseeable limit to the period over which the asset is expected to generate cash flows. Indefinite life intangible assets are recorded at cost unless an impairment is identified which requires a write-down to its recoverable amount. Indefinite life intangible assets are evaluated for impairment annually or more often if events or circumstances indicate there may be an impairment. Any impairment of the company’s indefinite life intangible assets is recorded in net income in the period in which the impairment is identified. Impairment losses on intangible assets may be subsequently reversed in net income. Infrastructure Intangible assets within our Infrastructure segment primarily consist of service concession arrangements that are accounted for as intangible assets under IFRIC 12, Service Concession Arrangements (“IFRIC 12”). Concession arrangements were mostly acquired through acquisitions of gas transmission, electricity transmission and toll road businesses and are amortized on a straight-line basis over the term of the arrangement. The intangible asset at the Australian regulated terminal operation relates to use of a specific steel and coal port terminal for a contractual length of time and is amortized over the life of the contractual arrangement with 81 years remaining on a straight-line basis. The intangible assets at the Brazilian regulated gas transmission operation relate to pipeline concession contracts, amortized on a straight-line basis over the life of the contractual arrangement. The intangible assets at the Brazilian electricity transmission operation relate to electricity transmission line concession contracts, amortized on a straight-line basis over the life of the contractual agreement. The intangible assets at the Chilean, Indian and Peruvian toll roads relate to the right to operate a road and charge users a specified tariff for a contractual length of time and is amortized over the life of the contractual arrangement with an average of 14 , 17 and 23 years remaining, respectively. Refer to Note 13 of the consolidated financial statements for additional information on these concession arrangements. The intangible assets at our residential infrastructure operation comprise contractual customer relationships, customer contracts, proprietary technology and brands. The contractual customer relationships and customer contracts represent ongoing economic benefits from leasing customers and annuity-based management agreements. Proprietary technology is recognized for the development of new metering technology, which allows the business to generate revenue through its sub-metering business. Brands represent the intrinsic value customers place on the operation’s various brand names. Brands are classified as having an indefinite life and are subject to annual impairment reviews. The remaining intangible assets are amortized straight-line over 10 to 20 years. Private Equity Our private equity operations include intangible assets across a number of operating companies. The majority are finite life intangibles with the following useful lives: (YEARS) Useful Lives Water and sewage concession agreements Up to 40 Brand names Up to 20 Computer software Up to 10 Customer relationships Up to 30 Value of insurance contracts acquired Up to 15 Patents and trademarks Up to 40 Proprietary technology Up to 20 Product development costs Up to 5 Distribution networks Up to 25 Loyalty program Up to 15 Real Estate Intangible assets in our Real Estate segment are primarily trademarks associated with hospitality assets. These assets have indefinite lives.
Description of accounting policy for goodwill [text block]	l) Goodwill Goodwill represents the excess of the price paid for the acquisition of an entity over the fair value of the net identifiable tangible and intangible assets and liabilities acquired. Goodwill is allocated to the cash-generating unit to which it relates. The company identifies cash-generating units as identifiable groups of assets that are largely independent of the cash inflows from other assets or groups of assets. Goodwill is evaluated for impairment annually or more often if events or circumstances indicate there may be an impairment. Impairment is determined for goodwill by assessing if the carrying value of a cash-generating unit, including the allocated goodwill, exceeds its recoverable amount determined as the greater of the estimated fair value less costs to sell and the value in use. Impairment losses recognized in respect of a cash-generating unit are first allocated to the carrying value of goodwill and any excess is allocated to the carrying amount of assets in the cash-generating unit. Any goodwill impairment is recorded in income in the period in which the impairment is identified. Impairment losses on goodwill are not subsequently reversed. On disposal of a subsidiary, any attributable amount of goodwill is included in determination of the gain or loss on disposal.
Description of accounting policy for subsidiary equity obligations [Text Block]	n) Subsidiary Equity Obligations Subsidiary equity obligations include subsidiary preferred equity units, subsidiary preferred shares and capital securities as well as limited-life funds and redeemable fund units. Subsidiary preferred equity units and capital securities are preferred shares that may be settled by a variable number of common equity units upon their conversion by the holders or the company. These instruments, as well as the related accrued distributions, are classified as liabilities at amortized cost on the Consolidated Balance Sheets. Dividends or yield distributions on these instruments are recorded as interest expense. To the extent conversion features are not closely related to the underlying liability the instruments are bifurcated into debt and equity components. Limited-life funds represent the interests of others in the company’s consolidated funds that have a defined maximum fixed life where the company has an obligation to distribute the residual interests of the fund to fund partners based on their proportionate share of the fund’s equity in the form of cash or other financial assets at cessation of the fund’s life. Redeemable fund units represent interests of others in consolidated subsidiaries that have a redemption feature that requires the company to deliver cash or other financial assets to the holders of the units upon receiving a redemption notice. Limited-life funds and redeemable fund units are classified as liabilities and recorded at fair value within subsidiary equity obligations on the Consolidated Balance Sheets. Changes in the fair value are recorded in net income in the period of the change.
Description of accounting policy for recognition of revenue [text block]	o) Revenue from Contracts with Customers IFRS 15 Revenue from Contracts with Customers (“IFRS 15”), specifies how and when revenue should be recognized and requires disclosures about the nature, amount, timing and uncertainty of revenues and cash flows arising from customer contracts. Where available, the company has elected the practical expedient available under IFRS 15 for measuring progress toward complete satisfaction of a performance obligation and for disclosure requirements of remaining performance obligations. This permits the company to recognize revenue in the amount to which we have the right to invoice such that the company has a right to the consideration in an amount that corresponds directly with the value to the customer for performance completed to date. Revenue Recognition Policies by Segment Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. A performance obligation is a promise in a contract to transfer a distinct good or service (or a bundle of goods and services) to the customer and is the unit of account in IFRS 15. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue, as, or when, the performance obligation is satisfied. The company recognizes revenue when it transfers control of a product or service to a customer. The company recognizes revenue from the following major sources: Asset Management The company’s primary asset management revenue streams, which include base management fees, incentive fees (including incentive distributions and performance fees) and realized carried interest, are satisfied over time. A significant portion of our asset management revenue is inter-segment in nature and thus eliminated on consolidation; that which survives is recorded as revenue in the Consolidated Statements of Operations. The company earns base management fees in accordance with contractual arrangements with our long-term private funds, perpetual strategies and public securities’ investment vehicles. Fees are typically equal to a percentage of fee-bearing capital within the respective fund or entity and are accrued quarterly. These fees are earned over the period of time that the management services are provided and are allocated to the distinct services provided by the company during the reporting period. Incentive distributions and performance fees are incentive payments to reward the company for meeting or exceeding certain performance thresholds of managed entities. Incentive distributions, paid to us by our listed partnerships, are determined by contractual arrangements and represent a portion of distributions paid by the listed partnerships above a predetermined hurdle. They are accrued as revenue on the respective partnerships’ distribution record dates if that hurdle has been achieved. BBU pays performance fees if the growth in its unit price exceeds a predetermined threshold, with the unit price based on the quarterly volume-weighted average price of publicly traded units. These fees are accrued on a quarterly basis subject to the performance of the listed vehicle. Carried interest is a performance fee arrangement in which we receive a percentage of investment returns, generated within a private fund on carry eligible capital, based on a contractual formula. We are eligible to earn carried interest from a fund once returns exceed the fund’s contractually defined performance hurdles at which point we earn an accelerated percentage of the additional fund profit until we have earned the percentage of total fund profit, net of fees and expenses, to which we are entitled. We defer recognition of carried interest as revenue until the fund’s cumulative returns exceed its preferred returns and when the probability of clawback is remote, which is generally met when an underlying fund investment is profitably disposed of. Typically carried interest is not recognized as revenue until the fund is near the end of its life. Real Estate Revenue from hospitality operations is generated by providing accommodation, food and beverage and leisure facilities to hotel guests. Revenue from accommodation is recognized over the period that the guest stays at the hotel; food and beverage revenue as well as revenue from leisure activities is recognized when goods and services are provided. Real estate rental income is recognized in accordance with IFRS 16, Leases . As the company retains substantially all the risks and benefits of ownership of its investment properties, it accounts for leases with its tenants as operating leases and begins recognizing revenue when the tenant has a right to use the leased asset. The total amount of contractual rent to be received from operating leases is recognized on a straight-line basis over the term of the lease; a straight-line or free rent receivable, as applicable, is recorded as a component of investment property representing the difference between rental revenue recorded and the contractual amount received. Percentage participating rents are recognized when tenants’ specified sales targets have been met. Renewable Power Revenue is earned by selling electricity sourced from our power generating facilities. It is derived from the output delivered and capacity provided at rates specified under contract terms or at prevailing market rates if the sale is uncontracted. Performance obligations are satisfied over time as the customer simultaneously receives and consumes benefits as we deliver electricity and related products. We also sell power and related products under bundled arrangements. Energy, capacity and renewable credits within power purchase agreements (“PPA”) are considered to be distinct performance obligations. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue over time as the performance obligation is satisfied. The sale of energy and capacity are distinct goods that are substantially the same and have the same pattern of transfer as measured by the output method. Renewable credits are performance obligations satisfied at a point in time. Measurement of satisfaction and transfer of control to the customer of renewable credits in a bundled arrangement coincides with the pattern of revenue recognition of the underlying energy generation. Infrastructure Our infrastructure revenue is predominantly recognized over time as services are rendered. Performance obligations are satisfied based on actual usage or throughput depending on the terms of the arrangement. Contract progress is determined using a cost-to-cost input method. Any upfront payments that are separable from the recurring revenue are recognized over time for the period the services are provided. In addition, we have certain contracts where we earn revenue at a point in time when control of the product ultimately transfers to the customer, which for our sustainable resources operations coincides with product delivery. Private Equity Revenue from our private equity operations primarily consists of: (i) sales of goods or products which are recognized as revenue when the product is shipped and title passes to the customer; and (ii) the provision of services which are recognized as revenue over the period of time that they are provided. Revenue recognized over a period of time is determined using the cost-to-cost input method to measure progress towards satisfaction of the performance obligations as the work performed on the contracts creates or enhances an asset that is controlled by the customer. A contract asset is recognized as costs are incurred and reclassified to accounts receivable when invoiced. A contract liability is recognized if payments are received before work is completed. Variable consideration, such as claims, incentives and variations resulting from contract modifications, is included in the transaction price when it is highly probable that such revenue will not reverse, which is when the uncertainty associated with the variable consideration is subsequently resolved . Residential Development Revenue from residential land sales, sales of homes and the completion of residential condominium projects is recognized at the point in time when our performance obligations are met. Performance obligations are satisfied when we transfer title over a product to a customer and all material conditions of the sales contract have been met. If title of a property transfers but material future development is required, revenue will be delayed until the point in time at which the remaining performance obligations are satisfied. Corporate Activities and Other Dividend and interest income from other financial assets are recognized as revenue when declared or on an accrual basis using the effective interest method, in accordance with IFRS 9 Financial Instruments (“IFRS 9”). Interest revenue from loans and notes receivable, less a provision for uncollectable amounts, is recorded on the accrual basis using the effective interest method, in accordance with IFRS 9.
Description of accounting policy for income tax [text block]	q) Income Taxes Current income tax assets and liabilities are measured at the amount expected to be paid to tax authorities, net of recoveries, based on the tax rates and laws enacted or substantively enacted at the balance sheet date. Current and deferred income tax relating to items recognized directly in equity are also recognized in equity. Deferred income tax liabilities are provided for using the liability method on temporary differences between the tax bases and carrying amounts of assets and liabilities. Deferred income tax assets are recognized for all deductible temporary differences and for the carry forward of unused tax credits and unused tax losses, to the extent that it is probable that deductions, tax credits and tax losses can be utilized. The carrying amount of deferred income tax assets is reviewed at each balance sheet date and reduced to the extent it is no longer probable that the income tax assets will be recovered. Deferred income tax assets and liabilities are measured using the tax rates that are expected to apply to the year when the asset is realized or the liability settled, based on the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.
Description of accounting policy for business combinations [text block]	r) Business Combinations Business combinations are accounted for using the acquisition method. The cost of a business acquisition is measured at the aggregate of the fair values at the date of exchange of assets given, liabilities incurred or assumed, and equity instruments issued in exchange for control of the acquiree. The acquiree’s identifiable assets, liabilities and contingent liabilities are recognized at their fair values at the acquisition date, except for non-current assets that are classified as held for sale which are recognized and measured at fair value less costs to sell. The interest of non-controlling shareholders in the acquiree is initially measured at the non-controlling shareholders’ proportion of the net fair value of the identifiable assets, liabilities and contingent liabilities recognized. To the extent the fair value of consideration paid exceeds the fair value of the net identifiable tangible and intangible assets, the excess is recorded as goodwill. To the extent the fair value of consideration paid is less than the fair value of net identifiable tangible and intangible assets, the excess is recognized in net income. When a business combination is achieved in stages, previously held interests in the acquired entity are re-measured to fair value at the acquisition date, which is the date control is obtained, and the resulting gain or loss, if any, is recognized in net income, other than amounts transferred directly to retained earnings. Amounts arising from interests in the acquiree prior to the acquisition date that have previously been recognized in other comprehensive income are reclassified to net income. Transaction costs are recorded as an expense within fair value changes in the Consolidated Statements of Operations.
Description of Accounting Policy For Capitalized Costs [Policy Text Block]	i. Capitalized Costs Capitalized costs related to assets under development and redevelopment include all eligible expenditures incurred in connection with the acquisition, development and construction of the asset until it is available for its intended use. These expenditures consist of costs that are directly attributable to these assets. Borrowing costs are capitalized when such costs are directly attributable to the acquisition, construction or production of a qualifying asset. A qualifying asset is an asset that takes a substantial period of time to prepare for its intended use.
Description of accounting policy for share-based payment transactions [text block]	ii. Share-based Payments The company issues share-based awards to certain employees and non-employee directors. The cost of equity-settled share-based transactions, comprised of share options, restricted shares and escrowed shares, is determined as the fair value of the award on the grant date using a fair value model. The cost of equity-settled share-based transactions is recognized as each tranche vests and is recorded in contributed surplus as a component of equity. The cost of cash-settled share-based transactions, comprised of Deferred Share Units (“DSUs”) and Restricted Share Units (“RSUs”), is measured as the fair value at the grant date, and expensed on a proportionate basis consistent with the vesting features over the vesting period with the recognition of a corresponding liability. The liability is recorded as a provision within accounts payable and other and measured at each reporting date at fair value with changes in fair value recognized in net income.
Description of accounting policy for provisions [text block]	iii. Provisions A provision is a liability of uncertain timing that is recognized when the company has a present obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The company’s significant provisions consist of pensions and other long-term and post-employment benefits, warranties on some products or services, obligations to retire or decommission tangible long-lived assets and the cost of legal claims arising in the normal course of operations.
Description of accounting policy for employee benefits [text block]	a. Pensions and Other Post-Employment Benefits The company offers pension and other post-employment benefit plans to employees of certain of its subsidiaries, with certain of these subsidiaries offering defined benefit plans. Defined benefit pension expenses, which include the current year’s service cost, are included in direct costs. For each defined benefit plan, we recognize the present value of our defined benefit obligations less the fair value of the plan assets as a defined benefit liability reported in accounts payable and other on our Consolidated Balance Sheets. The company’s obligations under its defined benefit pension plans are determined periodically through the preparation of actuarial valuations. b. Other Long-Term Incentive Plans The company provides long-term incentive plans to certain employees whereby the company allocates a portion of the amounts realized through subsidiary profit-sharing agreements to its employees. The cost of these plans is recognized over the requisite service period, provided it is probable that the vesting conditions will be achieved, based on the underlying subsidiary profit sharing arrangement. The liability is recorded within accounts payable and other and measured at each reporting date with the corresponding expense recognized in direct costs.
Description of Accounting Policy For Warranties, Asset Retirement, Legal And Other [Policy Text Block]	c. Warranties, Asset Retirement, Legal and Other Certain consolidated entities offer warranties on the sale of products or services. A provision is recorded to provide for future warranty costs based on management’s best estimate of probable warranty claims. Certain consolidated entities have legal obligations to retire tangible long-lived assets. A provision is recorded at each reporting date to provide for the estimated fair value of the asset retirement obligation upon decommissioning of the asset period. In the normal course of operations, the company may become involved in legal proceedings. Management analyzes information about these legal matters and provides provisions for probable contingent losses, including estimated legal expenses to resolve the matters. Internal and external legal counsel are used in order to estimate the probability of an unfavorable outcome and the amount of loss.
Disclosure of accounting judgements and estimates [text block]	t) Critical Estimates and Judgments The preparation of financial statements requires management to make estimates and judgments that affect the carried amounts of certain assets and liabilities, disclosures of contingent assets and liabilities and the reported amounts of revenues and expenses recorded during the period. Actual results could differ from those estimates. In making estimates and judgments, management relies on external information and observable conditions, where possible, supplemented by internal analysis as required. These estimates and judgments have been applied in a manner consistent with prior periods and there are no known trends, commitments, events or uncertainties that the company believes will materially affect the methodology or assumptions utilized in making estimates and judgments in these consolidated financial statements. i. Critical Estimates The significant estimates used in determining the recorded amount for assets and liabilities in the consolidated financial statements include the following: a. Investment Properties The critical assumptions and estimates used when determining the fair value of commercial properties are: discount rates and terminal capitalization rates for properties valued using a discounted cash flow model and capitalization rates for properties valued using a direct capitalization approach. Management also uses assumptions and estimates in determining expected future cash flows in discounted cash flow models and stabilized net operating income used in values determined using the direct capitalization approach. Properties under development are recorded at fair value using a discounted cash flow model which includes estimates in respect of the timing and cost to complete the development. Further information on investment property estimates is provided in Note 11. b. Revaluation Method for Property, Plant and Equipment When determining the carrying value of property, plant and equipment using the revaluation method, the company uses the following critical assumptions and estimates: the timing of forecasted revenues; future sales prices and associated expenses; future sales volumes; future regulatory rates; maintenance and other capital expenditures; discount rates; terminal capitalization rates; terminal valuation dates; useful lives; and residual values. Determination of the fair value of property, plant and equipment under development includes estimates in respect of the timing and cost to complete the development. Further information on estimates used in the revaluation method for property, plant and equipment is provided in Note 12. c. Financial Instruments Estimates and assumptions used in determining the fair value of financial instruments are: equity and commodity prices; future interest rates; the credit worthiness of the company relative to its counterparties; the credit risk of the company’s counterparties; estimated future cash flows; the amount of the liability and equity components of compound financial instruments; discount rates and volatility utilized in option valuations. Further information on estimates used in determining the carrying value of financial instruments is provided in Notes 6, 26 and 27. d. Inventory The company estimates the net realizable value of its inventory using estimates and assumptions about future development costs, costs to hold and future selling costs. e. Sustainable Resources The fair value of standing timber and agricultural assets is based on the following estimates and assumptions: the timing of forecasted revenues and prices; estimated selling costs; sustainable felling plans; growth assumptions; silviculture costs; discount rates; terminal capitalization rates; and terminal valuation dates. f. Other Other estimates and assumptions utilized in the preparation of the company’s consolidated financial statements are: the assessment or determination of net recoverable amount; oil and gas reserves; depreciation and amortization rates and useful lives; estimation of recoverable amounts of cash-generating units for impairment assessments of goodwill and intangible assets; ability to utilize tax losses and other tax measurements; fair value of assets held as collateral and the percentage of completion for construction contracts. ii. Critical Judgments Management is required to make critical judgments when applying its accounting policies. The following judgments have the most significant effect on the consolidated financial statements: a. Control or Level of Influence When determining the appropriate basis of accounting for the company’s investees, the company makes judgments about the degree of influence that it exerts directly or through an arrangement over the investees’ relevant activities. This may include the ability to elect investee directors or appoint management. Control is obtained when the company has the power to direct the relevant investing, financing and operating decisions of an entity and does so in its capacity as principal of the operations, rather than as an agent for other investors. Operating as a principal includes having sufficient capital at risk in any investee and exposure to the variability of the returns generated as a result of the decisions of the company as principal. Judgment is used in determining the sufficiency of the capital at risk or variability of returns. In making these judgments, the company considers the ability of other investors to remove the company as a manager or general partner in a controlled partnership. b. Investment Properties When applying the company’s accounting policy for investment properties, judgment is applied in determining whether certain costs are additions to the carrying amount of the property and, for properties under development, identifying the point at which practical completion of the property occurs and identifying the directly attributable borrowing costs to be included in the carrying value of the development property. c. Property, Plant and Equipment The company’s accounting policy for its property, plant and equipment requires critical judgments over the assessment of carrying value, whether certain costs are additions to the carrying amount of the property, plant and equipment as opposed to repairs and maintenance, and for assets under development the identification of when the asset is capable of being used as intended and identifying the directly attributable borrowing costs to be included in the asset’s carrying value. For assets that are measured using the revaluation method, judgment is required when estimating future prices, volumes, discount and capitalization rates. Judgment is applied when determining future electricity prices considering broker quotes for the years in which there is a liquid market available and, for the subsequent years, our best estimate of electricity prices from renewable sources that would allow new entrants into the market . d. Identifying Performance Obligations for Revenue Recognition Management is required to identify performance obligations relating to contracts with customers at the inception of each contract. IFRS 15 requires a contract’s transaction price to be allocated to each distinct performance obligation and subsequently recognized into income when, or as, the performance obligation is satisfied. Judgment is used when assessing the pattern of delivery of the product or service to determine if revenue should be recognized at a point in time or over time. For certain service contracts recognized over time, judgment is required to determine if revenue from variable consideration such as incentives, claims and variations from contract modifications has met the required probability threshold to be recognized. Management also uses judgment to determine whether contracts for the sale of products and services have distinct performance obligations that should be accounted for separately or as a single performance obligation. Goods and services are considered distinct if: (1) a customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer; and (2) the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract. Additional details about revenue recognition policies across our operating segments are included in Note 2(o) of the consolidated financial statements. e. Common Control Transactions The purchase and sale of businesses or subsidiaries between entities under common control are not specifically addressed in IFRS and accordingly, management uses judgment when determining a policy to account for such transactions taking into consideration other guidance in the IFRS framework and pronouncements of other standard-setting bodies. The company’s policy is to record assets and liabilities recognized as a result of transfers of businesses or subsidiaries between entities under common control at carrying value. Differences between the carrying amount of the consideration given or received and the carrying amount of the assets and liabilities transferred are recorded directly in equity. f. Indicators of Impairment Judgment is applied when determining whether indicators of impairment exist when assessing the carrying values of the company’s assets, including: the determination of the company’s ability to hold financial assets; the estimation of a cash-generating unit’s future revenues and direct costs; the determination of discount and capitalization rates; and when an asset’s carrying value is above the value derived using publicly traded prices which are quoted in a liquid market. g. Income Taxes The company makes judgments when determining the future tax rates applicable to subsidiaries and identifying the temporary differences that relate to each subsidiary. Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply during the period when the assets are realized or the liabilities settled, using the tax rates and laws enacted or substantively enacted at the consolidated balance sheet dates. The company measures deferred income taxes associated with its investment properties based on its specific intention with respect to each asset at the end of the reporting period. Where the company has a specific intention to sell a property in the foreseeable future, deferred taxes on the building portion of an investment property are measured based on the tax consequences that would follow the disposition of the property. Otherwise, deferred taxes are measured on the basis the carrying value of the investment property will be recovered substantially through use. h. Classification of Non-Controlling Interests in Limited-Life Funds Non-controlling interests in limited-life funds are classified as liabilities (subsidiary equity obligations) or equity (non-controlling interests) depending on whether an obligation exists to distribute residual net assets to non-controlling interests on liquidation in the form of cash or another financial asset or assets delivered in kind. Judgment is required to determine what the governing documents of each entity require or permit in this regard. i. Other Other critical judgments include the determination of effectiveness of financial hedges for accounting purposes; the likelihood and timing of anticipated transactions for hedge accounting; and the determination of functional currency.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Tables)	Dec. 31, 2019
Disclosure of Significant Accounting Policies [Abstract]
Disclosure of initial application of standards or interpretations [text block]	The impact of adopting IFRS 16 on our balance sheet is as follows: (MILLIONS) Balance at Dec. 31, 2018 IFRS 16 Adjustments Balance at Jan. 1, 2019 Assets Inventory $ 6,989 $ 22 $ 7,011 Investment properties 84,309 928 85,237 Property, plant and equipment 67,294 3,416 70,710 Other assets 97,689 — 97,689 Total assets $ 256,281 $ 4,366 $ 260,647 Liabilities Accounts payable and other $ 23,989 $ 4,366 $ 28,355 Other liabilities 135,142 — 135,142 Total liabilities 159,131 4,366 163,497 Equity Preferred equity 4,168 — 4,168 Non-controlling interests 67,335 — 67,335 Common equity 25,647 — 25,647 Total equity 97,150 — 97,150 Total liabilities and equity $ 256,281 $ 4,366 $ 260,647

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	12 Months Ended
SEGMENTED INFORMATION (Tables)	Dec. 31, 2019
Disclosure of operating segments [abstract]
Summary of financial information by segment	Reportable Segment Measures AS AT AND FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) Asset Real Estate Renewable Infrastructure Private Equity Residential Development Corporate Total Note External revenues $ 271 $ 10,442 $ 3,959 $ 7,091 $ 43,099 $ 2,456 $ 508 $ 67,826 Inter-segment and other revenues 1 2,343 33 15 2 479 — (49 ) 2,823 i Segmented revenues 2,614 10,475 3,974 7,093 43,578 2,456 459 70,649 FFO from equity accounted investments 1 43 1,049 74 1,100 320 41 14 2,641 ii Interest expense — (3,469 ) (923 ) (937 ) (1,536 ) (66 ) (349 ) (7,280 ) iii Current income taxes — (165 ) (73 ) (255 ) (326 ) (37 ) (114 ) (970 ) iv Funds from operations 1 1,597 1,185 333 464 844 125 (359 ) 4,189 v Common equity 4,927 18,781 5,320 2,792 4,086 2,859 (7,897 ) 30,868 Equity accounted investments 4,599 22,314 1,154 8,972 2,596 382 681 40,698 Additions to non-current assets 2 4,654 17,915 2,207 17,352 19,825 88 617 62,658 1. We equity account for our investment in Oaktree and include our share of the FFO and FFO from equity accounted investments at 61%. However, for segment reporting, Oaktree’s revenue is shown on a 100% basis. For the year ended December 31, 2019, $231 million of Oaktree’s revenues was included in our Asset Management segment revenue. 2. Includes equity accounted investments, investment properties, property, plant and equipment, sustainable resources, intangible assets and goodwill. Excludes non-current assets recognized on adoption of IFRS 16. AS AT AND FOR THE YEAR ENDED DEC. 31, 2018 Asset Real Estate Renewable Infrastructure Private Equity Residential Development Corporate Total Note External revenues $ 187 $ 8,075 $ 3,751 $ 5,013 $ 36,828 $ 2,683 $ 234 $ 56,771 Inter-segment revenues 1,760 41 11 5 442 — (46 ) 2,213 i Segmented revenues 1,947 8,116 3,762 5,018 37,270 2,683 188 58,984 FFO from equity accounted investments — 945 46 846 526 15 (6 ) 2,372 ii Interest expense — (2,464 ) (930 ) (586 ) (520 ) (57 ) (323 ) (4,880 ) iii Current income taxes — (213 ) (32 ) (326 ) (186 ) (45 ) (59 ) (861 ) iv Funds from operations 1,317 1,786 328 602 795 49 (476 ) 4,401 v Common equity 328 17,423 5,302 2,887 4,279 2,606 (7,178 ) 25,647 Equity accounted investments — 22,949 685 7,636 1,943 395 39 33,647 Additions to non-current assets 1 — 51,111 3,729 10,524 10,139 124 190 75,817 1. Includes equity accounted investments, investment properties, property, plant and equipment, sustainable resources, intangible assets and goodwill.
Summary of reconciliation of FFO from equity accounted investments	The following table reconciles the company’s consolidated equity accounted income to FFO from equity accounted investments: FOR THE YEARS ENDED DEC. 31 2019 2018 Consolidated equity accounted income $ 2,498 $ 1,088 Non-FFO items from equity accounted investments 1 143 1,284 FFO from equity accounted investments $ 2,641 $ 2,372 1. Adjustment to back out non-FFO expenses (income) that are included in consolidated equity accounted income including depreciation and amortization, deferred taxes and fair value changes from equity accounted investments.
Schedule of components of income tax expense	The following table reconciles consolidated income taxes to current and deferred income taxes: FOR THE YEARS ENDED DEC. 31 2019 2018 Current income tax expense $ (970 ) $ (861 ) Deferred income tax recovery 475 1,109 Income tax (expense) recovery $ (495 ) $ 248 The major components of income tax expense for the years ended December 31, 2019 and 2018 are set out below: FOR THE YEARS ENDED DEC. 31 2019 2018 Current income tax expense $ 970 $ 861 Deferred income tax expense / (recovery) Origination and reversal of temporary differences 281 143 Expense arising from previously unrecognized tax assets (647 ) (955 ) Change of tax rates and new legislation (109 ) (297 ) Total deferred income tax recovery (475 ) (1,109 ) Income tax expense (recovery) $ 495 $ (248 )
Summary of reconciliation of FFO to net income	The following table reconciles net income to total FFO: FOR THE YEARS ENDED DEC. 31 Note 2019 2018 Net income $ 5,354 $ 7,488 Realized disposition gains in fair value changes or equity vi 621 1,445 Non-controlling interests in FFO (7,161 ) (6,015 ) Financial statement components not included in FFO Equity accounted fair value changes and other non-FFO items 143 1,284 Fair value changes 831 (1,794 ) Depreciation and amortization 4,876 3,102 Deferred income taxes (475 ) (1,109 ) Total FFO $ 4,189 $ 4,401
Summary of financial information by geographic regions	The company’s revenues by location of operations are as follows: FOR THE YEARS ENDED DEC. 31 2019 2018 United States $ 16,584 $ 9,756 Canada 6,202 6,422 United Kingdom 21,847 23,684 Europe 6,285 3,275 Australia 5,522 4,968 Brazil 4,099 4,048 Asia 2,402 1,643 Colombia 2,095 1,594 Other 2,790 1,381 $ 67,826 $ 56,771 The company’s consolidated assets by location are as follows: AS AT DEC. 31 2019 2018 United States $ 149,687 $ 128,808 Canada 35,840 27,850 United Kingdom 30,184 23,093 Brazil 24,354 22,539 Europe 19,404 13,250 Australia 22,971 13,309 Asia 17,468 10,479 Colombia 10,819 9,862 Other 13,242 7,091 $ 323,969 $ 256,281

SUBSIDIARIES (Tables)

SUBSIDIARIES (Tables)	12 Months Ended
SUBSIDIARIES (Tables)	Dec. 31, 2019
Disclosure of subsidiaries [abstract]
Disclosure of non-controlling interests [text block]	The table below presents the exchanges on which the company’s subsidiaries with significant non-controlling interests were publicly listed as of December 31, 2019 : TSX NYSE Nasdaq BPY BPY.UN N/A BPY BEP BEP.UN BEP N/A BIP BIP.UN BIP N/A BBU BBU.UN BBU N/A The following table outlines the composition of accumulated non-controlling interests presented within the company’s consolidated financial statements: AS AT DEC. 31 2019 2018 BPY $ 29,165 $ 31,580 BEP 13,321 12,457 BIP 20,036 12,752 BBU 8,664 4,477 Individually immaterial subsidiaries with non-controlling interests 10,647 6,069 $ 81,833 $ 67,335
Schedule of interests in subsidiaries	The following table presents the details of the company’s subsidiaries with significant non-controlling interests: Jurisdiction of Formation Ownership Interest Held by Non-Controlling Interests 1, 2 AS AT DEC. 31 2019 2018 Brookfield Property Partners L.P. (“BPY”) Bermuda 44.8 % 46.2 % Brookfield Renewable Partners L.P. (“BEP”) Bermuda 39.5 % 39.5 % Brookfield Infrastructure Partners L.P. (“BIP”) Bermuda 70.4 % 70.5 % Brookfield Business Partners L.P. (“BBU”) Bermuda 37.3 % 32.0 % 1. Control and associated voting rights of the limited partnerships (BPY, BEP, BIP and BBU) resides with their respective general partners which are wholly owned subsidiaries of the company. The company’s general partner interest is entitled to earn base management fees and incentive payments in the form of incentive distribution rights or performance fees. 2. The company’s ownership interest in BPY, BEP, BIP and BBU includes a combination of redemption-exchange units (REUs), Class A limited partnership units, special limited partnership units, general partnership units and units or shares that are exchangeable for units in our listed partnerships, in each subsidiary, where applicable. Each of BPY, BEP, BIP and BBU’s partnership capital includes its Class A limited partnership units whereas REUs and general partnership units are considered non-controlling interests for the respective partnerships. REUs share the same economic attributes in all respects except for the redemption right attached thereto. The REUs and general partnership units participate in earnings and distributions on a per unit basis equivalent to the per unit participation of the Class A limited partnership units of the subsidiary. The following tables contain summarized financial information of the Corporation, BFI, BFL, BIC and non-guarantor subsidiaries: AS AT AND FOR THE YEAR ENDED DEC. 31, 2019 The Corporation 1 BFI BFL BIC Subsidiaries of the Corporation 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 104 $ 148 $ — $ 105 $ 73,310 $ (5,841 ) $ 67,826 Net income attributable to shareholders 2,807 40 — 85 3,493 (3,618 ) 2,807 Total assets 70,976 5,389 — 3,520 331,698 (87,614 ) 323,969 Total liabilities 35,963 3,994 — 2,239 195,586 (30,659 ) 207,123 AS AT AND FOR THE YEAR ENDED DEC. 31, 2018 The Corporation 1 BFI BFL BIC Subsidiaries of the Corporation 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 810 $ 43 $ 53 $ 163 $ 62,984 $ (7,282 ) $ 56,771 Net income attributable to shareholders 3,584 (46 ) (1 ) 145 4,506 (4,604 ) 3,584 Total assets 59,105 4,330 13 3,296 271,534 (81,997 ) 256,281 Total liabilities 29,290 2,909 6 2,198 154,458 (29,730 ) 159,131 1. This column accounts for investments in all subsidiaries of the Corporation under the equity method. 2. This column accounts for investments in all subsidiaries of the Corporation other than BFI, BFL and BIC on a combined basis. 3. This column includes the necessary amounts to present the company on a consolidated basis.
Summarized financial information of subsidiaries [Table Text Block]	Summarized financial information with respect to the company’s subsidiaries with significant non-controlling interests is set out below. The summarized financial information represents amounts before intra-group eliminations: BPY BEP BIP BBU AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Current assets $ 3,289 $ 7,114 $ 1,474 $ 1,961 $ 5,841 $ 2,276 $ 12,795 $ 9,781 Non-current assets 108,354 115,406 34,217 32,142 50,467 34,304 38,956 17,537 Current liabilities (12,466 ) (10,306 ) (1,678 ) (1,689 ) (5,439 ) (2,417 ) (11,024 ) (9,016 ) Non-current liabilities (54,242 ) (65,474 ) (15,882 ) (15,208 ) (28,692 ) (19,495 ) (29,674 ) (11,808 ) Non-controlling interests (29,165 ) (31,580 ) (13,321 ) (12,457 ) (20,036 ) (12,752 ) (8,664 ) (4,477 ) Equity attributable to Brookfield $ 15,770 $ 15,160 $ 4,810 $ 4,749 $ 2,141 $ 1,916 $ 2,389 $ 2,017 Revenues $ 8,203 $ 7,239 $ 2,980 $ 2,982 $ 6,597 $ 4,652 $ 43,032 $ 37,168 Net income (loss) attributable to: Non-controlling interests $ 2,091 $ 2,356 $ 348 $ 401 $ 636 $ 724 $ 353 $ 1,106 Shareholders 1,066 1,298 (75 ) 2 14 82 81 97 $ 3,157 $ 3,654 $ 273 $ 403 $ 650 $ 806 $ 434 $ 1,203 Other comprehensive income (loss) attributable to: Non-controlling interests $ 234 $ (122 ) $ 1,179 $ 2,292 $ 486 $ (859 ) $ (159 ) $ (292 ) Shareholders 89 (294 ) 546 972 104 (86 ) (39 ) (96 ) $ 323 $ (416 ) $ 1,725 $ 3,264 $ 590 $ (945 ) $ (198 ) $ (388 ) The summarized cash flows of the company’s subsidiaries with material non-controlling interests are as follows: BPY BEP BIP BBU FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Cash flows from (used in): Operating activities $ 624 $ 1,357 $ 1,212 $ 1,103 $ 2,143 $ 1,362 $ 2,163 $ 1,341 Financing activities (892 ) 8,873 (1,010 ) (1,080 ) 9,542 4,418 15,925 3,561 Investing activities (1,611 ) (8,406 ) (251 ) (624 ) (11,372 ) (5,564 ) (17,939 ) (3,999 ) Distributions paid to non-controlling interests in common equity $ 576 $ 427 $ 254 $ 244 $ 628 $ 558 $ 13 $ 11

ACQUISITIONS OF CONSOLIDATED _2

ACQUISITIONS OF CONSOLIDATED ENTITIES (Tables)	12 Months Ended
ACQUISITIONS OF CONSOLIDATED ENTITIES (Tables)	Dec. 31, 2019
Disclosure of detailed information about business combination [line items]
Disclosure of detailed information about business combinations	The following table summarizes the balance sheet impact as a result of significant business combinations that occurred in 2019. The valuations of the assets acquired are still under evaluation and as such the business combinations have been accounted for on a provisional basis. Private Equity Infrastructure Real Estate Renewable Power (MILLIONS) Clarios Healthscope Genworth East-West Pipeline Genesee & Wyoming NorthRiver Aveo Group Arcadia Cash and cash equivalents $ 11 $ 25 $ 253 $ — $ 67 $ 2 $ 27 $ 3 Accounts receivable and other 1,503 196 4,796 66 461 — 92 31 Assets classified as held for sale — — — — 1,584 — — — Inventory 1,775 41 — 28 43 3 43 7 Equity accounted investments 838 9 — — 48 — — — Investment properties — — — — — — 3,458 — Property, plant and equipment 3,582 2,590 10 2,134 5,283 1,198 95 759 Intangible assets 6,420 280 243 295 1,992 74 2 — Goodwill 1,894 1,548 — — 2,042 218 — — Deferred income tax assets 181 136 — — 5 41 — — Total assets 16,204 4,825 5,302 2,523 11,525 1,536 3,717 800 Less: Accounts payable and other (1,998 ) (691 ) (1,954 ) (66 ) (2,071 ) (218 ) (2,368 ) (65 ) Non-recourse borrowings — — (342 ) — (1,567 ) — (537 ) — Deferred income tax liabilities (967 ) (79 ) (49 ) — (1,111 ) — — — Non-controlling interests 1 (469 ) — (1,279 ) (578 ) (250 ) — (88 ) — (3,434 ) (770 ) (3,624 ) (644 ) (4,999 ) (218 ) (2,993 ) (65 ) Net assets acquired $ 12,770 $ 4,055 $ 1,678 $ 1,879 $ 6,526 $ 1,318 $ 724 $ 735 Consideration 2 $ 12,770 $ 4,055 $ 1,674 $ 1,879 $ 6,526 $ 1,318 $ 724 $ 735 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2. Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. The following table summarizes the balance sheet impact as a result of business combinations that occurred in the year ended December 31, 2019 . The valuations of the assets acquired are still under evaluation and as such the business combinations have been accounted for on a provisional basis: (MILLIONS) Private Equity Infrastructure Real Estate Renewable Power and Other Total Cash and cash equivalents $ 344 $ 94 $ 31 $ 6 $ 475 Accounts receivable and other 6,706 553 114 110 7,483 Assets classified as held for sale — 1,584 — — 1,584 Inventory 2,230 74 46 13 2,363 Equity accounted investments 847 48 — — 895 Investment properties — 211 3,458 — 3,669 Property, plant and equipment 6,650 8,710 785 1,308 17,453 Intangible assets 7,057 3,248 28 — 10,333 Goodwill 3,479 2,644 2 — 6,125 Deferred income tax assets 363 46 — — 409 Total assets 27,676 17,212 4,464 1,437 50,789 Less: Accounts payable and other (5,025 ) (2,425 ) (2,394 ) (101 ) (9,945 ) Non-recourse borrowings (1,084 ) (1,980 ) (537 ) (319 ) (3,920 ) Deferred income tax liabilities (1,142 ) (1,248 ) — (36 ) (2,426 ) Non-controlling interests 1 (1,749 ) (828 ) (88 ) — (2,665 ) (9,000 ) (6,481 ) (3,019 ) (456 ) (18,956 ) Net assets acquired $ 18,676 $ 10,731 $ 1,445 $ 981 $ 31,833 Consideration 2 $ 18,672 $ 10,731 $ 1,445 $ 981 $ 31,829 1. Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2. Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
Disclosure of financial assets	The following table presents the changes in the balance of financial assets and liabilities classified as Level 3 for the years ended December 31, 2019 and 2018: 2019 2018 AS AT AND FOR THE YEARS ENDED DEC. 31 Financial Financial Financial Financial Balance, beginning of year $ 795 $ 2,299 $ 869 $ 2,263 Fair value changes in net income 278 (27 ) (113 ) (89 ) Fair value changes in other comprehensive income 1 (10 ) 6 (2 ) (48 ) Additions, net of disposals 717 264 41 173 Balance, end of year $ 1,780 $ 2,542 $ 795 $ 2,299 1. Includes foreign currency translation. The current and non-current balances of other financial assets are as follows: AS AT DEC. 31 2019 2018 Current $ 3,605 $ 3,382 Non-current 8,863 2,845 Total $ 12,468 $ 6,227 The following tables list the company’s financial instruments by their respective classification as at December 31, 2019 and 2018: AS AT DEC. 31, 2019 Fair Value Through Profit or Loss Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 6,778 $ 6,778 Other financial assets Government bonds 156 2,247 — 2,403 Corporate bonds 1,118 1,839 310 3,267 Fixed income securities and other 1,131 619 — 1,750 Common shares and warrants 1,791 1,398 — 3,189 Loans and notes receivable 55 — 1,804 1,859 4,251 6,103 2,114 12,468 Accounts receivable and other 2 1,957 — 12,078 14,035 $ 6,208 $ 6,103 $ 20,970 $ 33,281 Financial liabilities Corporate borrowings $ — $ — $ 7,083 $ 7,083 Non-recourse borrowings of managed entities Property-specific borrowings — — 127,869 127,869 Subsidiary borrowings — — 8,423 8,423 — — 136,292 136,292 Accounts payable and other 2 4,528 — 32,196 36,724 Subsidiary equity obligations 1,896 — 2,236 4,132 $ 6,424 $ — $ 177,807 $ 184,231 1. Financial assets include $7.0 billion of assets pledged as collateral. 2. Includes derivative instruments which are elected for hedge accounting, totaling $950 million included in accounts receivable and other and $1.3 billion included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income. AS AT DEC. 31, 2018 Fair Value Through Profit or Loss Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 8,390 $ 8,390 Other financial assets Government bonds 68 20 — 88 Corporate bonds 536 96 273 905 Fixed income securities and other 570 311 156 1,037 Common shares and warrants 689 1,690 — 2,379 Loans and notes receivable 50 — 1,768 1,818 1,913 2,117 2,197 6,227 Accounts receivable and other 2 2,113 — 10,449 12,562 $ 4,026 $ 2,117 $ 21,036 $ 27,179 Financial liabilities Corporate borrowings $ — $ — $ 6,409 $ 6,409 Non-recourse borrowings of managed entities Property-specific borrowings — — 103,209 103,209 Subsidiary borrowings — — 8,600 8,600 — — 111,809 111,809 Accounts payable and other 2 3,362 — 20,627 23,989 Subsidiary equity obligations 1,725 — 2,151 3,876 $ 5,087 $ — $ 140,996 $ 146,083 1. Financial assets include $7.2 billion of assets pledged as collateral. 2. Includes derivative instruments which are elected for hedge accounting, totaling $1.5 billion included in accounts receivable and other and $465 million included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income.
Disclosure of financial liabilities	The following table categorizes liabilities measured at amortized cost, but for which fair values are disclosed based upon the fair value hierarchy levels: 2019 2018 AS AT DEC. 31 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Corporate borrowings $ 7,841 $ 92 $ — $ 6,376 $ 91 $ — Property-specific borrowings 6,467 52,386 70,875 6,918 30,214 67,159 Subsidiary borrowings 6,111 299 2,222 3,640 2,355 2,562 Subsidiary equity obligations — 73 2,170 — — 2,151 The following table presents the changes in the balance of financial assets and liabilities classified as Level 3 for the years ended December 31, 2019 and 2018: 2019 2018 AS AT AND FOR THE YEARS ENDED DEC. 31 Financial Financial Financial Financial Balance, beginning of year $ 795 $ 2,299 $ 869 $ 2,263 Fair value changes in net income 278 (27 ) (113 ) (89 ) Fair value changes in other comprehensive income 1 (10 ) 6 (2 ) (48 ) Additions, net of disposals 717 264 41 173 Balance, end of year $ 1,780 $ 2,542 $ 795 $ 2,299 1. Includes foreign currency translation. The following tables list the company’s financial instruments by their respective classification as at December 31, 2019 and 2018: AS AT DEC. 31, 2019 Fair Value Through Profit or Loss Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 6,778 $ 6,778 Other financial assets Government bonds 156 2,247 — 2,403 Corporate bonds 1,118 1,839 310 3,267 Fixed income securities and other 1,131 619 — 1,750 Common shares and warrants 1,791 1,398 — 3,189 Loans and notes receivable 55 — 1,804 1,859 4,251 6,103 2,114 12,468 Accounts receivable and other 2 1,957 — 12,078 14,035 $ 6,208 $ 6,103 $ 20,970 $ 33,281 Financial liabilities Corporate borrowings $ — $ — $ 7,083 $ 7,083 Non-recourse borrowings of managed entities Property-specific borrowings — — 127,869 127,869 Subsidiary borrowings — — 8,423 8,423 — — 136,292 136,292 Accounts payable and other 2 4,528 — 32,196 36,724 Subsidiary equity obligations 1,896 — 2,236 4,132 $ 6,424 $ — $ 177,807 $ 184,231 1. Financial assets include $7.0 billion of assets pledged as collateral. 2. Includes derivative instruments which are elected for hedge accounting, totaling $950 million included in accounts receivable and other and $1.3 billion included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income. AS AT DEC. 31, 2018 Fair Value Through Profit or Loss Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 8,390 $ 8,390 Other financial assets Government bonds 68 20 — 88 Corporate bonds 536 96 273 905 Fixed income securities and other 570 311 156 1,037 Common shares and warrants 689 1,690 — 2,379 Loans and notes receivable 50 — 1,768 1,818 1,913 2,117 2,197 6,227 Accounts receivable and other 2 2,113 — 10,449 12,562 $ 4,026 $ 2,117 $ 21,036 $ 27,179 Financial liabilities Corporate borrowings $ — $ — $ 6,409 $ 6,409 Non-recourse borrowings of managed entities Property-specific borrowings — — 103,209 103,209 Subsidiary borrowings — — 8,600 8,600 — — 111,809 111,809 Accounts payable and other 2 3,362 — 20,627 23,989 Subsidiary equity obligations 1,725 — 2,151 3,876 $ 5,087 $ — $ 140,996 $ 146,083 1. Financial assets include $7.2 billion of assets pledged as collateral. 2. Includes derivative instruments which are elected for hedge accounting, totaling $1.5 billion included in accounts receivable and other and $465 million included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income.
Disclosure of fair value of financial instruments [text block]	The following table lists the company’s financial instruments by their respective classification as at December 31, 2019 and December 31, 2018 : 2019 2018 AS AT DEC. 31 Carrying Value Fair Value Carrying Value Fair Value Financial assets Cash and cash equivalents $ 6,778 $ 6,778 $ 8,390 $ 8,390 Other financial assets Government bonds 2,403 2,403 88 88 Corporate bonds 3,267 3,267 905 905 Fixed income securities and other 1,750 1,750 1,037 1,037 Common shares and warrants 3,189 3,189 2,379 2,379 Loans and notes receivable 1,859 1,859 1,818 1,818 12,468 12,468 6,227 6,227 Accounts receivable and other 14,035 14,035 12,562 12,562 $ 33,281 $ 33,281 $ 27,179 $ 27,179 Financial liabilities Corporate borrowings $ 7,083 $ 7,933 $ 6,409 $ 6,467 Non-recourse borrowings of managed entities Property-specific borrowings 127,869 129,728 103,209 104,291 Subsidiary borrowings 8,423 8,632 8,600 8,557 136,292 138,360 111,809 112,848 Accounts payable and other 36,724 36,724 23,989 23,989 Subsidiary equity obligations 4,132 4,139 3,876 3,876 $ 184,231 $ 187,156 $ 146,083 $ 147,180
Carrying and fair values of financial assets	The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the fair value hierarchy levels: 2019 2018 AS AT DEC. 31 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets Other financial assets Government bonds $ — $ 2,403 $ — $ — $ 88 $ — Corporate bonds — 2,682 275 — 632 — Fixed income securities and other 419 851 480 22 369 490 Common shares and warrants 1,966 421 802 1,928 229 222 Loans and notes receivables — 51 4 — 46 4 Accounts receivable and other 1 1,737 219 44 1,990 79 $ 2,386 $ 8,145 $ 1,780 $ 1,994 $ 3,354 $ 795 Financial liabilities Accounts payable and other $ 93 $ 3,749 $ 686 $ 81 $ 2,622 $ 659 Subsidiary equity obligations — 40 1,856 — 85 1,640 $ 93 $ 3,789 $ 2,542 $ 81 $ 2,707 $ 2,299 The following table presents our investment properties measured at fair value: AS AT DEC. 31 2019 2018 Core office United States $ 15,748 $ 15,237 Canada 4,806 4,245 Australia 2,300 2,391 Europe 2,867 1,331 Brazil 361 329 Core retail 21,561 17,607 LP investments and other LP investments office 8,756 8,438 LP investments retail 2,812 3,414 Logistics 94 183 Multifamily 2,937 4,151 Triple net lease 4,508 5,067 Self-storage 1,007 931 Student housing 2,605 2,417 Manufactured housing 2,446 2,369 Mixed-Use 2,703 12,086 Directly-held real estate properties 19,814 2,750 Other investment properties 1,361 1,363 $ 96,686 $ 84,309
Carrying and fair values of financial liabilities	The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the fair value hierarchy levels: 2019 2018 AS AT DEC. 31 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets Other financial assets Government bonds $ — $ 2,403 $ — $ — $ 88 $ — Corporate bonds — 2,682 275 — 632 — Fixed income securities and other 419 851 480 22 369 490 Common shares and warrants 1,966 421 802 1,928 229 222 Loans and notes receivables — 51 4 — 46 4 Accounts receivable and other 1 1,737 219 44 1,990 79 $ 2,386 $ 8,145 $ 1,780 $ 1,994 $ 3,354 $ 795 Financial liabilities Accounts payable and other $ 93 $ 3,749 $ 686 $ 81 $ 2,622 $ 659 Subsidiary equity obligations — 40 1,856 — 85 1,640 $ 93 $ 3,789 $ 2,542 $ 81 $ 2,707 $ 2,299
Description of valuation techniques used in fair value measurement, assets	The following table summarizes the valuation techniques and key inputs used in the fair value measurement of Level 2 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Valuation Techniques and Key Inputs Derivative assets/Derivative liabilities (accounts receivable/accounts payable) $ 1,737 / Foreign currency forward contracts – discounted cash flow model – forward exchange rates (from observable forward exchange rates at the end of the reporting period) and discounted at credit adjusted rate Interest rate contracts – discounted cash flow model – forward interest rates (from observable yield curves) and applicable credit spreads discounted at a credit adjusted rate Energy derivatives – quoted market prices, or in their absence internal valuation models, corroborated with observable market data (3,749 ) Other financial assets 6,408 Valuation models based on observable market data Redeemable fund units (subsidiary equity obligations) (40 ) Aggregated market prices of underlying investments
Schedule of significant unobservable inputs used and change in balance of financial assets	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Fixed income securities and other $ 480 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 275 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares (common shares and warrants) 802 Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,856 ) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 219 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (686 ) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value The significant unobservable inputs (Level 3) included in the discounted cash flow models used when determining the fair value of standing timber and agricultural assets include: Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2019 2018 AS AT DEC. 31 Discount Rate Terminal Capitalization Rate Investment Horizon (years) Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 7.0 % 5.6 % 12 6.9 % 5.6 % 12 Canada 5.9 % 5.2 % 10 6.0 % 5.4 % 10 Australia 6.8 % 5.9 % 10 7.0 % 6.2 % 10 Europe 4.6 % 4.1 % 11 n/a n/a n/a Brazil 7.9 % 7.4 % 10 9.6 % 7.7 % 6 Core retail 6.7 % 5.4 % 10 7.1 % 6.0 % 12 LP investments and other LP investments office 10.0 % 7.3 % 7 10.2 % 7.0 % 6 LP investments retail 8.8 % 7.3 % 10 8.9 % 7.8 % 9 Mixed-use 7.6 % 5.4 % 10 7.8 % 5.4 % 10 Logistics 1 5.8 % n/a n/a 9.3 % 8.3 % 10 Multifamily 1 5.1 % n/a n/a 4.8 % n/a n/a Triple net lease 1 6.3 % n/a n/a 6.3 % n/a n/a Self-storage 1 5.6 % n/a n/a 5.7 % n/a n/a Student housing 1 5.8 % n/a n/a 5.6 % n/a n/a Manufactured housing 1 5.5 % n/a n/a 5.4 % n/a n/a Directly-held real estate properties 2 5.2% – 9.2% 6.1 % 19 7.4 % 6.8 % 10 Other investment properties 1 8.9 % n/a n/a 9.3 % n/a n/a 1. Multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. Key valuation metrics of the company’s utilities, transport, energy, data infrastructure and sustainable resources assets at the end of 2019 and 2018 are summarized below. Utilities Transport Energy Data Infrastructure Sustainable Resources AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Discount rates 7 – 14% 7 – 14% 9 – 14% 10 – 13% 12 – 15% 12 – 15% 13 – 15% 13 – 15% 5 – 10% 5 – 8% Terminal capitalization multiples 8x – 21x 8x – 22x 9x – 14x 9x – 14x 10x – 17x 10x – 14x 11x – 17x 10x – 11x 5x – 10x 12x – 23x Investment horizon / Exit date (years) 10 – 20 10 – 20 10 – 20 10 – 20 5 – 10 10 10 – 11 10 3 – 21 3 – 30 Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2019 and 2018 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Discount rate Contracted 4.6 – 4.9% 4.8 – 5.6% 8.2 % 9.0 % 9.0 % 9.6 % 3.5 % 4.0 – 4.3% Uncontracted 6.2 – 6.4% 6.4 – 7.2% 9.5 % 10.3 % 10.3 % 10.9 % 5.3 % 5.8 – 6.1% Terminal capitalization rate 1 6.2 – 6.4% 6.1 – 7.1% n/a n/a 9.8 % 10.4 % n/a n/a Exit date 2040 2039 2047 2047 2039 2038 2034 2033 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. the following significant unobservable inputs as part of our valuation: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate / multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date / terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year
Schedule of significant unobservable inputs used and change in balance of financial liabilities	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Fixed income securities and other $ 480 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 275 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares (common shares and warrants) 802 Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,856 ) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 219 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (686 ) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value
Disclosure of offsetting of financial assets and financial liabilities	FAIR VALUE OF FINANCIAL INSTRUMENTS a) Financial Instrument Classification The following tables list the company’s financial instruments by their respective classification as at December 31, 2019 and 2018: AS AT DEC. 31, 2019 Fair Value Through Profit or Loss Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 6,778 $ 6,778 Other financial assets Government bonds 156 2,247 — 2,403 Corporate bonds 1,118 1,839 310 3,267 Fixed income securities and other 1,131 619 — 1,750 Common shares and warrants 1,791 1,398 — 3,189 Loans and notes receivable 55 — 1,804 1,859 4,251 6,103 2,114 12,468 Accounts receivable and other 2 1,957 — 12,078 14,035 $ 6,208 $ 6,103 $ 20,970 $ 33,281 Financial liabilities Corporate borrowings $ — $ — $ 7,083 $ 7,083 Non-recourse borrowings of managed entities Property-specific borrowings — — 127,869 127,869 Subsidiary borrowings — — 8,423 8,423 — — 136,292 136,292 Accounts payable and other 2 4,528 — 32,196 36,724 Subsidiary equity obligations 1,896 — 2,236 4,132 $ 6,424 $ — $ 177,807 $ 184,231 1. Financial assets include $7.0 billion of assets pledged as collateral. 2. Includes derivative instruments which are elected for hedge accounting, totaling $950 million included in accounts receivable and other and $1.3 billion included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income. AS AT DEC. 31, 2018 Fair Value Through Profit or Loss Fair Value Through OCI Amortized Cost Total Financial assets 1 Cash and cash equivalents $ — $ — $ 8,390 $ 8,390 Other financial assets Government bonds 68 20 — 88 Corporate bonds 536 96 273 905 Fixed income securities and other 570 311 156 1,037 Common shares and warrants 689 1,690 — 2,379 Loans and notes receivable 50 — 1,768 1,818 1,913 2,117 2,197 6,227 Accounts receivable and other 2 2,113 — 10,449 12,562 $ 4,026 $ 2,117 $ 21,036 $ 27,179 Financial liabilities Corporate borrowings $ — $ — $ 6,409 $ 6,409 Non-recourse borrowings of managed entities Property-specific borrowings — — 103,209 103,209 Subsidiary borrowings — — 8,600 8,600 — — 111,809 111,809 Accounts payable and other 2 3,362 — 20,627 23,989 Subsidiary equity obligations 1,725 — 2,151 3,876 $ 5,087 $ — $ 140,996 $ 146,083 1. Financial assets include $7.2 billion of assets pledged as collateral. 2. Includes derivative instruments which are elected for hedge accounting, totaling $1.5 billion included in accounts receivable and other and $465 million included in accounts payable and other, for which changes in fair value are recorded in other comprehensive income. Gains or losses arising from changes in the fair value through profit or loss (“FVTPL”) financial assets are presented in the Consolidated Statements of Operations in the period in which they arise. Dividends from FVTPL and fair value through other comprehensive income (“FVTOCI”) financial assets are recognized in the Consolidated Statements of Operations when the company’s right to receive payment is established. Interest on FVTOCI financial assets is calculated using the effective interest method and reported in our Consolidated Statements of Operations. FVTOCI debt and equity securities are recorded on the balance sheet at fair value with changes in fair value recorded through other comprehensive income. As at December 31, 2019 , the unrealized gains and losses relating to the fair value of FVTOCI securities amounted to $479 million ( 2018 – $212 million ) and $108 million ( 2018 – $152 million ), respectively. During the year ended December 31, 2019 , $3 million of net deferred losses ( 2018 – $ nil ) previously recognized in accumulated other comprehensive income were reclassified to net income as a result of the disposition or impairment of certain of our FVTOCI financial assets that are not equity instruments. Included in cash and cash equivalents is $5.7 billion ( 2018 – $7.7 billion ) of cash and $1.1 billion ( 2018 – $685 million ) of short-term deposits as at December 31, 2019 . b) Carrying and Fair Value The following table lists the company’s financial instruments by their respective classification as at December 31, 2019 and December 31, 2018 : 2019 2018 AS AT DEC. 31 Carrying Value Fair Value Carrying Value Fair Value Financial assets Cash and cash equivalents $ 6,778 $ 6,778 $ 8,390 $ 8,390 Other financial assets Government bonds 2,403 2,403 88 88 Corporate bonds 3,267 3,267 905 905 Fixed income securities and other 1,750 1,750 1,037 1,037 Common shares and warrants 3,189 3,189 2,379 2,379 Loans and notes receivable 1,859 1,859 1,818 1,818 12,468 12,468 6,227 6,227 Accounts receivable and other 14,035 14,035 12,562 12,562 $ 33,281 $ 33,281 $ 27,179 $ 27,179 Financial liabilities Corporate borrowings $ 7,083 $ 7,933 $ 6,409 $ 6,467 Non-recourse borrowings of managed entities Property-specific borrowings 127,869 129,728 103,209 104,291 Subsidiary borrowings 8,423 8,632 8,600 8,557 136,292 138,360 111,809 112,848 Accounts payable and other 36,724 36,724 23,989 23,989 Subsidiary equity obligations 4,132 4,139 3,876 3,876 $ 184,231 $ 187,156 $ 146,083 $ 147,180 The current and non-current balances of other financial assets are as follows: AS AT DEC. 31 2019 2018 Current $ 3,605 $ 3,382 Non-current 8,863 2,845 Total $ 12,468 $ 6,227 c) Fair Value Hierarchy Levels The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the fair value hierarchy levels: 2019 2018 AS AT DEC. 31 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets Other financial assets Government bonds $ — $ 2,403 $ — $ — $ 88 $ — Corporate bonds — 2,682 275 — 632 — Fixed income securities and other 419 851 480 22 369 490 Common shares and warrants 1,966 421 802 1,928 229 222 Loans and notes receivables — 51 4 — 46 4 Accounts receivable and other 1 1,737 219 44 1,990 79 $ 2,386 $ 8,145 $ 1,780 $ 1,994 $ 3,354 $ 795 Financial liabilities Accounts payable and other $ 93 $ 3,749 $ 686 $ 81 $ 2,622 $ 659 Subsidiary equity obligations — 40 1,856 — 85 1,640 $ 93 $ 3,789 $ 2,542 $ 81 $ 2,707 $ 2,299 During the year ended December 31, 2019 and 2018, there were no transfers between Level 1, 2 or 3. Fair values of financial instruments are determined by reference to quoted bid or ask prices, as appropriate. If bid and ask prices are unavailable, the closing price of the most recent transaction of that instrument is used. In the absence of an active market, fair values are determined based on prevailing market rates for instruments with similar characteristics and risk profiles or internal or external valuation models, such as option pricing models and discounted cash flow analysis, using observable market inputs. The following table summarizes the valuation techniques and key inputs used in the fair value measurement of Level 2 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Valuation Techniques and Key Inputs Derivative assets/Derivative liabilities (accounts receivable/accounts payable) $ 1,737 / Foreign currency forward contracts – discounted cash flow model – forward exchange rates (from observable forward exchange rates at the end of the reporting period) and discounted at credit adjusted rate Interest rate contracts – discounted cash flow model – forward interest rates (from observable yield curves) and applicable credit spreads discounted at a credit adjusted rate Energy derivatives – quoted market prices, or in their absence internal valuation models, corroborated with observable market data (3,749 ) Other financial assets 6,408 Valuation models based on observable market data Redeemable fund units (subsidiary equity obligations) (40 ) Aggregated market prices of underlying investments Fair values determined using valuation models requiring the use of unobservable inputs (Level 3 financial assets and liabilities) include assumptions concerning the amount and timing of estimated future cash flows and discount rates. In determining those unobservable inputs, the company uses observable external market inputs such as interest rate yield curves, currency rates and price and rate volatilities, as applicable, to develop assumptions regarding those unobservable inputs. The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Fixed income securities and other $ 480 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 275 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares (common shares and warrants) 802 Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,856 ) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 219 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (686 ) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value The following table presents the changes in the balance of financial assets and liabilities classified as Level 3 for the years ended December 31, 2019 and 2018: 2019 2018 AS AT AND FOR THE YEARS ENDED DEC. 31 Financial Financial Financial Financial Balance, beginning of year $ 795 $ 2,299 $ 869 $ 2,263 Fair value changes in net income 278 (27 ) (113 ) (89 ) Fair value changes in other comprehensive income 1 (10 ) 6 (2 ) (48 ) Additions, net of disposals 717 264 41 173 Balance, end of year $ 1,780 $ 2,542 $ 795 $ 2,299 1. Includes foreign currency translation. The following table categorizes liabilities measured at amortized cost, but for which fair values are disclosed based upon the fair value hierarchy levels: 2019 2018 AS AT DEC. 31 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Corporate borrowings $ 7,841 $ 92 $ — $ 6,376 $ 91 $ — Property-specific borrowings 6,467 52,386 70,875 6,918 30,214 67,159 Subsidiary borrowings 6,111 299 2,222 3,640 2,355 2,562 Subsidiary equity obligations — 73 2,170 — — 2,151 Fair values of Level 2 and Level 3 liabilities measured at amortized cost but for which fair values are disclosed are determined using valuation techniques such as adjusted public pricing and discounted cash flows. d) Hedging Activities The company uses derivatives and non-derivative financial instruments to manage or maintain exposures to interest, currency, credit and other market risks. Derivative financial instruments are recorded at fair value. For certain derivatives which are used to manage exposures, the company determines whether hedge accounting can be applied. Hedge accounting is applied when the derivative is designated as a hedge of a specific exposure and there is assurance that it will continue to be highly effective as a hedge based on an expectation of offsetting cash flows or fair value. Hedge accounting is discontinued prospectively when the derivative no longer qualifies as a hedge or the hedging relationship is terminated. Once discontinued, the cumulative change in fair value of a derivative that was previously recorded in other comprehensive income by the application of hedge accounting is recognized in profit or loss over the remaining term of the original hedging relationship as amounts related to the hedged item are recognized in profit or loss. The assets or liabilities relating to unrealized mark-to-market gains and losses on derivative financial instruments are recorded in financial assets and financial liabilities, respectively. i. Cash Flow Hedges The company uses the following cash flow hedges: energy derivative contracts to hedge the sale of power; interest rate swaps to hedge the variability in cash flows or future cash flows related to a variable rate asset or liability; and equity derivatives to hedge long-term compensation arrangements. For the year ended December 31, 2019 , pre-tax net unrealized losses of $89 million ( 2018 – gains of $38 million ) were recorded in other comprehensive income for the effective portion of the cash flow hedges. As at December 31, 2019 , there was an unrealized derivative asset balance of $210 million relating to derivative contracts designated as cash flow hedges ( 2018 – $468 million ). ii. Net Investment Hedges The company uses foreign exchange contracts and foreign currency denominated debt instruments to manage its foreign currency exposures arising from net investments in foreign operations. For the year ended December 31, 2019 , unrealized pre-tax net losses of $433 million ( 2018 – gains of $999 million ) were recorded in other comprehensive income for the effective portion of hedges of net investments in foreign operations. As at December 31, 2019 , there was an unrealized derivative liability balance of $551 million relating to derivative contracts designated as net investment hedges ( 2018 – asset balance of $523 million ). e) Netting of Financial Instruments Financial assets and liabilities are offset with the net amount reported in the Consolidated Balance Sheets where the company currently has a legally enforceable right to offset and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. The company enters into derivative transactions under International Swaps and Derivatives Association (“ISDA”) master netting agreements. In general, under such agreements the amounts owed by each counterparty on a single day are aggregated into a single net amount that is payable by one party to the other. The agreements provide the company with the legal and enforceable right to offset these amounts and accordingly the following balances are presented net in the consolidated financial statements: Accounts Receivable and Other Accounts Payable and Other AS AT DEC. 31 2019 2018 2019 2018 Gross amounts of financial instruments before netting $ 2,380 $ 2,367 $ 2,853 $ 1,873 Gross amounts of financial instruments set-off in Consolidated Balance Sheets (423 ) (254 ) (366 ) (250 ) Net amount of financial instruments in Consolidated Balance Sheets $ 1,957 $ 2,113 $ 2,487 $ 1,623

ACCOUNTS RECEIVABLE AND OTHER (

ACCOUNTS RECEIVABLE AND OTHER (Tables)	12 Months Ended
ACCOUNTS RECEIVABLE AND OTHER (Tables)	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Schedule of accounts receivable and other	AS AT DEC. 31 Note 2019 2018 Accounts receivable (a) $ 11,129 $ 9,167 Prepaid expenses and other assets (a) 5,636 5,508 Restricted cash (b) 1,595 1,923 Sustainable resources (c) 109 333 Total $ 18,469 $ 16,931
Schedule of current and non-current accounts receivable	The current and non-current balances of accounts receivable and other are as follows: AS AT DEC. 31 2019 2018 Current $ 13,862 $ 11,911 Non-current 4,607 5,020 Total $ 18,469 $ 16,931
Schedule of change in balance of timberlands and other agricultural assets	The following table presents the change in the balance of timberlands and other agricultural assets: AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 Balance, beginning of year $ 333 $ 390 Additions 77 21 Dispositions (270 ) — Fair value adjustments 12 42 Decrease due to harvest (39 ) (89 ) Foreign currency changes (4 ) (31 ) Balance, end of year $ 109 $ 333
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Fixed income securities and other $ 480 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 275 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares (common shares and warrants) 802 Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,856 ) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 219 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (686 ) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value The significant unobservable inputs (Level 3) included in the discounted cash flow models used when determining the fair value of standing timber and agricultural assets include: Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2019 2018 AS AT DEC. 31 Discount Rate Terminal Capitalization Rate Investment Horizon (years) Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 7.0 % 5.6 % 12 6.9 % 5.6 % 12 Canada 5.9 % 5.2 % 10 6.0 % 5.4 % 10 Australia 6.8 % 5.9 % 10 7.0 % 6.2 % 10 Europe 4.6 % 4.1 % 11 n/a n/a n/a Brazil 7.9 % 7.4 % 10 9.6 % 7.7 % 6 Core retail 6.7 % 5.4 % 10 7.1 % 6.0 % 12 LP investments and other LP investments office 10.0 % 7.3 % 7 10.2 % 7.0 % 6 LP investments retail 8.8 % 7.3 % 10 8.9 % 7.8 % 9 Mixed-use 7.6 % 5.4 % 10 7.8 % 5.4 % 10 Logistics 1 5.8 % n/a n/a 9.3 % 8.3 % 10 Multifamily 1 5.1 % n/a n/a 4.8 % n/a n/a Triple net lease 1 6.3 % n/a n/a 6.3 % n/a n/a Self-storage 1 5.6 % n/a n/a 5.7 % n/a n/a Student housing 1 5.8 % n/a n/a 5.6 % n/a n/a Manufactured housing 1 5.5 % n/a n/a 5.4 % n/a n/a Directly-held real estate properties 2 5.2% – 9.2% 6.1 % 19 7.4 % 6.8 % 10 Other investment properties 1 8.9 % n/a n/a 9.3 % n/a n/a 1. Multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. Key valuation metrics of the company’s utilities, transport, energy, data infrastructure and sustainable resources assets at the end of 2019 and 2018 are summarized below. Utilities Transport Energy Data Infrastructure Sustainable Resources AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Discount rates 7 – 14% 7 – 14% 9 – 14% 10 – 13% 12 – 15% 12 – 15% 13 – 15% 13 – 15% 5 – 10% 5 – 8% Terminal capitalization multiples 8x – 21x 8x – 22x 9x – 14x 9x – 14x 10x – 17x 10x – 14x 11x – 17x 10x – 11x 5x – 10x 12x – 23x Investment horizon / Exit date (years) 10 – 20 10 – 20 10 – 20 10 – 20 5 – 10 10 10 – 11 10 3 – 21 3 – 30 Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2019 and 2018 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Discount rate Contracted 4.6 – 4.9% 4.8 – 5.6% 8.2 % 9.0 % 9.0 % 9.6 % 3.5 % 4.0 – 4.3% Uncontracted 6.2 – 6.4% 6.4 – 7.2% 9.5 % 10.3 % 10.3 % 10.9 % 5.3 % 5.8 – 6.1% Terminal capitalization rate 1 6.2 – 6.4% 6.1 – 7.1% n/a n/a 9.8 % 10.4 % n/a n/a Exit date 2040 2039 2047 2047 2039 2038 2034 2033 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. the following significant unobservable inputs as part of our valuation: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate / multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date / terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year

INVENTORY (Tables)

INVENTORY (Tables)	12 Months Ended
INVENTORY (Tables)	Dec. 31, 2019
Inventories [Abstract]
Schedule of inventory properties	AS AT DEC. 31 2019 2018 Residential properties under development $ 3,007 $ 2,001 Land held for development 1,781 1,794 Completed residential properties 998 1,398 Industrial products 2,816 914 Other 1 1,670 882 Total $ 10,272 $ 6,989
Schedule of current and non-current balances of inventory	The current and non-current balances of inventory are as follows: AS AT DEC. 31 2019 2018 Current $ 7,054 $ 4,578 Non-current 3,218 2,411 Total $ 10,272 $ 6,989

HELD FOR SALE (Tables)

HELD FOR SALE (Tables)	12 Months Ended
HELD FOR SALE (Tables)	Dec. 31, 2019
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners [abstract]
Schedule of assets and liabilities classified as held-for-sale	The following is a summary of the assets and liabilities classified as held for sale as at December 31, 2019 and 2018: AS AT DEC. 31 Infrastructure Real Estate Renewable Power and Other 2019 Total 2018 Total Assets Cash and cash equivalents $ 42 $ 1 $ 15 $ 58 $ 21 Accounts receivable and other 120 5 49 174 112 Investment properties — 251 — 251 617 Property, plant and equipment 1,307 — 423 1,730 779 Equity accounted investments 190 223 — 413 568 Other long-term assets 872 — — 872 88 Deferred income tax assets 1 — 3 4 — Assets classified as held for sale $ 2,532 $ 480 $ 490 $ 3,502 $ 2,185 Liabilities Accounts payable and other $ 182 $ 2 $ 39 $ 223 $ 193 Non-recourse borrowings of managed entities 774 138 159 1,071 619 Deferred income tax liabilities 364 — 32 396 — Liabilities associated with assets classified as held for sale $ 1,320 $ 140 $ 230 $ 1,690 $ 812

EQUITY ACCOUNTED INVESTMENTS (T

EQUITY ACCOUNTED INVESTMENTS (Tables)	12 Months Ended
EQUITY ACCOUNTED INVESTMENTS (Tables)	Dec. 31, 2019
Investments in subsidiaries, joint ventures and associates [abstract]
Schedule of voting interests and carrying value of investments in associates	The following table presents the ownership interests and carrying values of the company’s investments in associates and joint ventures, all of which are accounted for using the equity method: Ownership Interest 1 Carrying Value AS AT DEC. 31 2019 2018 2019 2018 Oaktree 61 % n/a $ 5,231 $ — Real estate Associates Core office n/a 7 – 23% — 107 LP investments and other 30 – 90% 6 – 90% 307 1,173 Joint ventures Core office 14 – 56% 15 – 56% 9,440 8,258 Core retail 2 12 – 68% 12 – 68% 10,555 11,159 LP investments and other 18 – 80% 12 – 90% 2,012 2,252 22,314 22,949 Infrastructure Associates Utilities 11 – 50% 11 – 50% 962 339 Transport 26 – 58% 26 – 58% 4,033 4,100 Data infrastructure 45 – 50% 45 % 2,920 1,705 Other 22 – 50% 22 – 50% 156 232 Joint ventures Energy 50 % 50 % 716 1,121 Other 50 % 50 % 185 139 8,972 7,636 Private equity Associates Norbord 43 % 42 % 1,185 1,287 Industrial operations 24 – 54% 24 – 50% 854 73 Other 25 – 90% 13 – 90% 557 583 2,596 1,943 Renewable power and other Renewable power associates 14 – 60% 14 – 60% 1,154 685 Other equity accounted investments 2 16 – 85% 18 – 85% 431 434 1,585 1,119 Total $ 40,698 $ 33,647 1. Joint ventures or associates in which the ownership interest is greater than 50% represent investments for which control is either shared or does not exist resulting in the investment being equity accounted. 2. Carrying value of joint ventures in other equity accounted investments is $383 million (2018 – $395 million ).
Schedule of voting interests and carrying value of investments in joint ventures	The following table presents the ownership interests and carrying values of the company’s investments in associates and joint ventures, all of which are accounted for using the equity method: Ownership Interest 1 Carrying Value AS AT DEC. 31 2019 2018 2019 2018 Oaktree 61 % n/a $ 5,231 $ — Real estate Associates Core office n/a 7 – 23% — 107 LP investments and other 30 – 90% 6 – 90% 307 1,173 Joint ventures Core office 14 – 56% 15 – 56% 9,440 8,258 Core retail 2 12 – 68% 12 – 68% 10,555 11,159 LP investments and other 18 – 80% 12 – 90% 2,012 2,252 22,314 22,949 Infrastructure Associates Utilities 11 – 50% 11 – 50% 962 339 Transport 26 – 58% 26 – 58% 4,033 4,100 Data infrastructure 45 – 50% 45 % 2,920 1,705 Other 22 – 50% 22 – 50% 156 232 Joint ventures Energy 50 % 50 % 716 1,121 Other 50 % 50 % 185 139 8,972 7,636 Private equity Associates Norbord 43 % 42 % 1,185 1,287 Industrial operations 24 – 54% 24 – 50% 854 73 Other 25 – 90% 13 – 90% 557 583 2,596 1,943 Renewable power and other Renewable power associates 14 – 60% 14 – 60% 1,154 685 Other equity accounted investments 2 16 – 85% 18 – 85% 431 434 1,585 1,119 Total $ 40,698 $ 33,647 1. Joint ventures or associates in which the ownership interest is greater than 50% represent investments for which control is either shared or does not exist resulting in the investment being equity accounted. 2. Carrying value of joint ventures in other equity accounted investments is $383 million (2018 – $395 million ).
Schedule of investments in associates	The following table presents total revenues, net income and other comprehensive income (“OCI”) of the company’s investments in associates and joint ventures: 2019 2018 AS AT DEC. 31 Revenue Net Income OCI Revenue Net Income OCI Oaktree $ 295 $ 12 $ (6 ) — $ — $ — Real estate Associates Core office — 1 — 60 71 — Core retail — — — 1,536 (1,013 ) (15 ) LP investments and other 423 126 50 545 301 191 Joint ventures Core office 2,386 1,869 (105 ) 1,559 1,544 (34 ) Core retail 2,430 2,114 — 889 449 — LP investments and other 714 23 — 342 487 (2 ) Infrastructure Associates Utilities 1,046 354 26 541 92 110 Transport 3,277 3 363 3,673 (309 ) (826 ) Data infrastructure 1,447 (38 ) 57 804 64 244 Other 55 (45 ) (210 ) 84 83 363 Joint ventures Energy 696 358 — 695 92 — Other 74 19 — 75 19 (29 ) Private equity Associates Norbord 1,731 (165 ) 13 2,424 248 (21 ) Industrial operations 1,770 122 — 445 62 (21 ) Other 1,007 247 26 1,502 86 (15 ) Renewable power and other Renewable power associates 431 88 242 491 79 469 Other equity accounted investments 400 104 1 133 44 (3 ) $ 18,182 $ 5,192 $ 457 $ 15,798 $ 2,399 $ 411 The following table presents current and non-current assets, as well as current and non-current liabilities of the company’s investments in associates and joint ventures: 2019 2018 AS AT DEC. 31 Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Oaktree $ 1,497 $ 16,870 $ 1,172 $ 7,434 $ — $ — $ — $ — Real estate Associates Core office 1 — — — 15 1,998 12 457 LP investments and other 31 955 15 390 86 3,430 56 966 Joint ventures Core office 2,790 36,861 4,824 13,987 1,789 33,245 2,766 13,998 Core retail 992 35,726 615 14,334 832 40,136 734 16,537 LP investments and other 648 9,559 648 5,247 686 11,645 776 5,256 Infrastructure Associates Utilities 869 6,500 687 4,152 289 2,227 325 1,391 Transport 1,199 18,028 1,953 8,359 1,507 15,676 1,871 6,358 Data infrastructure 912 11,636 1,042 4,908 447 6,692 438 2,902 Other 21 374 27 133 118 659 117 117 Joint ventures Energy 154 5,455 249 3,927 165 5,034 144 2,813 Other 35 299 6 93 13 216 5 89 Private equity Associates Norbord 462 3,911 260 1,355 509 4,574 363 1,204 Industrial operations 1,038 743 485 256 38 277 27 136 Other 793 2,362 697 1,562 892 1,910 601 1,004 Renewable power and other Renewable power associates 539 5,967 535 2,530 182 2,845 93 974 Other equity accounted investments 1,022 — 118 113 1,081 53 142 152 $ 13,003 $ 155,246 $ 13,333 $ 68,780 $ 8,649 $ 130,617 $ 8,470 $ 54,354 The following tables presents the change in the balance of investments in associates and joint ventures: AS AT AND FOR THE YEARS ENDED DEC. 31 (MILLIONS) Oaktree Real Estate Infrastructure Private Equity Renewable Power and Other 2019 Total 2018 Total Balance, beginning of year $ — $ 22,949 $ 7,636 $ 1,943 $ 1,119 $ 33,647 $ 31,994 Net additions (disposals) 5,251 (1,932 ) 1,067 (150 ) 440 4,676 (9,772 ) Acquisitions through business combinations — — 48 847 — 895 12,752 Share of comprehensive income 26 1,986 537 97 169 2,815 1,606 Distributions received (45 ) (810 ) (166 ) (122 ) (157 ) (1,300 ) (1,903 ) Foreign exchange (1 ) 121 (150 ) (19 ) 14 (35 ) (1,030 ) Balance, end of year $ 5,231 $ 22,314 $ 8,972 $ 2,596 $ 1,585 $ 40,698 $ 33,647 Additions, net of disposals, of $4.7 billion in 2019 relate primarily to the acquisition of a $5.3 billion interest in Oaktree. As part of the Oaktree transaction, we received a distribution on closing from Oaktree for $306 million, and recognized deferred consideration of $365 million related to the settlement of certain pre-existing agreements. In addition, we acquired an equity accounted interest in a Brazilian data center operation, a New Zealand integrated data provider and a natural gas transmission business in Mexico within our Infrastructure segment. This was partially offset by the consolidation of a previously equity-accounted portfolio of retail malls within our Real Estate segment. The following table presents current and non-current assets, as well as current and non-current liabilities of the company’s investments in associates and joint ventures: 2019 2018 AS AT DEC. 31 Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Oaktree $ 1,497 $ 16,870 $ 1,172 $ 7,434 $ — $ — $ — $ — Real estate Associates Core office 1 — — — 15 1,998 12 457 LP investments and other 31 955 15 390 86 3,430 56 966 Joint ventures Core office 2,790 36,861 4,824 13,987 1,789 33,245 2,766 13,998 Core retail 992 35,726 615 14,334 832 40,136 734 16,537 LP investments and other 648 9,559 648 5,247 686 11,645 776 5,256 Infrastructure Associates Utilities 869 6,500 687 4,152 289 2,227 325 1,391 Transport 1,199 18,028 1,953 8,359 1,507 15,676 1,871 6,358 Data infrastructure 912 11,636 1,042 4,908 447 6,692 438 2,902 Other 21 374 27 133 118 659 117 117 Joint ventures Energy 154 5,455 249 3,927 165 5,034 144 2,813 Other 35 299 6 93 13 216 5 89 Private equity Associates Norbord 462 3,911 260 1,355 509 4,574 363 1,204 Industrial operations 1,038 743 485 256 38 277 27 136 Other 793 2,362 697 1,562 892 1,910 601 1,004 Renewable power and other Renewable power associates 539 5,967 535 2,530 182 2,845 93 974 Other equity accounted investments 1,022 — 118 113 1,081 53 142 152 $ 13,003 $ 155,246 $ 13,333 $ 68,780 $ 8,649 $ 130,617 $ 8,470 $ 54,354 Certain of the company’s investments in associates are subject to restrictions on the extent to which they can remit funds to the company in the form of cash dividends or repay loans and advances as a result of borrowing arrangements, regulatory restrictions and other contractual requirements. The following table presents total revenues, net income and other comprehensive income (“OCI”) of the company’s investments in associates and joint ventures: 2019 2018 AS AT DEC. 31 Revenue Net Income OCI Revenue Net Income OCI Oaktree $ 295 $ 12 $ (6 ) — $ — $ — Real estate Associates Core office — 1 — 60 71 — Core retail — — — 1,536 (1,013 ) (15 ) LP investments and other 423 126 50 545 301 191 Joint ventures Core office 2,386 1,869 (105 ) 1,559 1,544 (34 ) Core retail 2,430 2,114 — 889 449 — LP investments and other 714 23 — 342 487 (2 ) Infrastructure Associates Utilities 1,046 354 26 541 92 110 Transport 3,277 3 363 3,673 (309 ) (826 ) Data infrastructure 1,447 (38 ) 57 804 64 244 Other 55 (45 ) (210 ) 84 83 363 Joint ventures Energy 696 358 — 695 92 — Other 74 19 — 75 19 (29 ) Private equity Associates Norbord 1,731 (165 ) 13 2,424 248 (21 ) Industrial operations 1,770 122 — 445 62 (21 ) Other 1,007 247 26 1,502 86 (15 ) Renewable power and other Renewable power associates 431 88 242 491 79 469 Other equity accounted investments 400 104 1 133 44 (3 ) $ 18,182 $ 5,192 $ 457 $ 15,798 $ 2,399 $ 411 Certain of the company’s investments are publicly listed entities with active pricing in a liquid market. The fair value based on the publicly listed price of these equity accounted investments in comparison to the company’s carrying value is as follows: 2019 2018 AS AT DEC. 31 Public Price Carrying Value Public Price Carrying Value Norbord $ 930 $ 1,185 $ 925 $ 1,287 Other 38 — 36 — $ 968 $ 1,185 $ 961 $ 1,287
Disclosure of interests in joint ventures [Table Text Block]	The following table presents total revenues, net income and other comprehensive income (“OCI”) of the company’s investments in associates and joint ventures: 2019 2018 AS AT DEC. 31 Revenue Net Income OCI Revenue Net Income OCI Oaktree $ 295 $ 12 $ (6 ) — $ — $ — Real estate Associates Core office — 1 — 60 71 — Core retail — — — 1,536 (1,013 ) (15 ) LP investments and other 423 126 50 545 301 191 Joint ventures Core office 2,386 1,869 (105 ) 1,559 1,544 (34 ) Core retail 2,430 2,114 — 889 449 — LP investments and other 714 23 — 342 487 (2 ) Infrastructure Associates Utilities 1,046 354 26 541 92 110 Transport 3,277 3 363 3,673 (309 ) (826 ) Data infrastructure 1,447 (38 ) 57 804 64 244 Other 55 (45 ) (210 ) 84 83 363 Joint ventures Energy 696 358 — 695 92 — Other 74 19 — 75 19 (29 ) Private equity Associates Norbord 1,731 (165 ) 13 2,424 248 (21 ) Industrial operations 1,770 122 — 445 62 (21 ) Other 1,007 247 26 1,502 86 (15 ) Renewable power and other Renewable power associates 431 88 242 491 79 469 Other equity accounted investments 400 104 1 133 44 (3 ) $ 18,182 $ 5,192 $ 457 $ 15,798 $ 2,399 $ 411 The following table presents current and non-current assets, as well as current and non-current liabilities of the company’s investments in associates and joint ventures: 2019 2018 AS AT DEC. 31 Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Current Assets Non-Current Assets Current Liabilities Non-Current Liabilities Oaktree $ 1,497 $ 16,870 $ 1,172 $ 7,434 $ — $ — $ — $ — Real estate Associates Core office 1 — — — 15 1,998 12 457 LP investments and other 31 955 15 390 86 3,430 56 966 Joint ventures Core office 2,790 36,861 4,824 13,987 1,789 33,245 2,766 13,998 Core retail 992 35,726 615 14,334 832 40,136 734 16,537 LP investments and other 648 9,559 648 5,247 686 11,645 776 5,256 Infrastructure Associates Utilities 869 6,500 687 4,152 289 2,227 325 1,391 Transport 1,199 18,028 1,953 8,359 1,507 15,676 1,871 6,358 Data infrastructure 912 11,636 1,042 4,908 447 6,692 438 2,902 Other 21 374 27 133 118 659 117 117 Joint ventures Energy 154 5,455 249 3,927 165 5,034 144 2,813 Other 35 299 6 93 13 216 5 89 Private equity Associates Norbord 462 3,911 260 1,355 509 4,574 363 1,204 Industrial operations 1,038 743 485 256 38 277 27 136 Other 793 2,362 697 1,562 892 1,910 601 1,004 Renewable power and other Renewable power associates 539 5,967 535 2,530 182 2,845 93 974 Other equity accounted investments 1,022 — 118 113 1,081 53 142 152 $ 13,003 $ 155,246 $ 13,333 $ 68,780 $ 8,649 $ 130,617 $ 8,470 $ 54,354
Schedule of fair value of equity accounted investments	The fair value based on the publicly listed price of these equity accounted investments in comparison to the company’s carrying value is as follows: 2019 2018 AS AT DEC. 31 Public Price Carrying Value Public Price Carrying Value Norbord $ 930 $ 1,185 $ 925 $ 1,287 Other 38 — 36 — $ 968 $ 1,185 $ 961 $ 1,287

INVESTMENT PROPERTIES (Tables)

INVESTMENT PROPERTIES (Tables)	12 Months Ended
INVESTMENT PROPERTIES (Tables)	Dec. 31, 2019
Investment property [abstract]
Disclosure of fair value measurement of assets [text block]	The following table categorizes financial assets and liabilities, which are carried at fair value, based upon the fair value hierarchy levels: 2019 2018 AS AT DEC. 31 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial assets Other financial assets Government bonds $ — $ 2,403 $ — $ — $ 88 $ — Corporate bonds — 2,682 275 — 632 — Fixed income securities and other 419 851 480 22 369 490 Common shares and warrants 1,966 421 802 1,928 229 222 Loans and notes receivables — 51 4 — 46 4 Accounts receivable and other 1 1,737 219 44 1,990 79 $ 2,386 $ 8,145 $ 1,780 $ 1,994 $ 3,354 $ 795 Financial liabilities Accounts payable and other $ 93 $ 3,749 $ 686 $ 81 $ 2,622 $ 659 Subsidiary equity obligations — 40 1,856 — 85 1,640 $ 93 $ 3,789 $ 2,542 $ 81 $ 2,707 $ 2,299 The following table presents our investment properties measured at fair value: AS AT DEC. 31 2019 2018 Core office United States $ 15,748 $ 15,237 Canada 4,806 4,245 Australia 2,300 2,391 Europe 2,867 1,331 Brazil 361 329 Core retail 21,561 17,607 LP investments and other LP investments office 8,756 8,438 LP investments retail 2,812 3,414 Logistics 94 183 Multifamily 2,937 4,151 Triple net lease 4,508 5,067 Self-storage 1,007 931 Student housing 2,605 2,417 Manufactured housing 2,446 2,369 Mixed-Use 2,703 12,086 Directly-held real estate properties 19,814 2,750 Other investment properties 1,361 1,363 $ 96,686 $ 84,309
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Fixed income securities and other $ 480 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 275 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares (common shares and warrants) 802 Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,856 ) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 219 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (686 ) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value The significant unobservable inputs (Level 3) included in the discounted cash flow models used when determining the fair value of standing timber and agricultural assets include: Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2019 2018 AS AT DEC. 31 Discount Rate Terminal Capitalization Rate Investment Horizon (years) Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 7.0 % 5.6 % 12 6.9 % 5.6 % 12 Canada 5.9 % 5.2 % 10 6.0 % 5.4 % 10 Australia 6.8 % 5.9 % 10 7.0 % 6.2 % 10 Europe 4.6 % 4.1 % 11 n/a n/a n/a Brazil 7.9 % 7.4 % 10 9.6 % 7.7 % 6 Core retail 6.7 % 5.4 % 10 7.1 % 6.0 % 12 LP investments and other LP investments office 10.0 % 7.3 % 7 10.2 % 7.0 % 6 LP investments retail 8.8 % 7.3 % 10 8.9 % 7.8 % 9 Mixed-use 7.6 % 5.4 % 10 7.8 % 5.4 % 10 Logistics 1 5.8 % n/a n/a 9.3 % 8.3 % 10 Multifamily 1 5.1 % n/a n/a 4.8 % n/a n/a Triple net lease 1 6.3 % n/a n/a 6.3 % n/a n/a Self-storage 1 5.6 % n/a n/a 5.7 % n/a n/a Student housing 1 5.8 % n/a n/a 5.6 % n/a n/a Manufactured housing 1 5.5 % n/a n/a 5.4 % n/a n/a Directly-held real estate properties 2 5.2% – 9.2% 6.1 % 19 7.4 % 6.8 % 10 Other investment properties 1 8.9 % n/a n/a 9.3 % n/a n/a 1. Multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. Key valuation metrics of the company’s utilities, transport, energy, data infrastructure and sustainable resources assets at the end of 2019 and 2018 are summarized below. Utilities Transport Energy Data Infrastructure Sustainable Resources AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Discount rates 7 – 14% 7 – 14% 9 – 14% 10 – 13% 12 – 15% 12 – 15% 13 – 15% 13 – 15% 5 – 10% 5 – 8% Terminal capitalization multiples 8x – 21x 8x – 22x 9x – 14x 9x – 14x 10x – 17x 10x – 14x 11x – 17x 10x – 11x 5x – 10x 12x – 23x Investment horizon / Exit date (years) 10 – 20 10 – 20 10 – 20 10 – 20 5 – 10 10 10 – 11 10 3 – 21 3 – 30 Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2019 and 2018 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Discount rate Contracted 4.6 – 4.9% 4.8 – 5.6% 8.2 % 9.0 % 9.0 % 9.6 % 3.5 % 4.0 – 4.3% Uncontracted 6.2 – 6.4% 6.4 – 7.2% 9.5 % 10.3 % 10.3 % 10.9 % 5.3 % 5.8 – 6.1% Terminal capitalization rate 1 6.2 – 6.4% 6.1 – 7.1% n/a n/a 9.8 % 10.4 % n/a n/a Exit date 2040 2039 2047 2047 2039 2038 2034 2033 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. the following significant unobservable inputs as part of our valuation: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate / multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date / terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year
Disclosure of detailed information about investment property	The following table presents the change in the fair value of the company’s investment properties: AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 Fair value, beginning of year $ 84,309 $ 56,870 Additions 11,638 3,069 Acquisitions through business combinations 3,669 33,024 Increase attributable to adoption of accounting standards 1 928 — Dispositions 2 (6,029 ) (8,555 ) Fair value changes 1,710 1,610 Foreign currency translation and other 461 (1,709 ) Fair value, end of year 3 $ 96,686 $ 84,309 1. The company’s adoption of IFRS 16 resulted in the recognition of ROU investment properties that were previously off-balance sheet items. Refer to Note 2 for additional information. 2. Includes amounts reclassified to held for sale. 3. As at December 31, 2019, the ending balance includes $88.5 billion of investment properties leased to third parties. Also included in the ending balance is approximately $2.6 billion of ROU investment property balances.

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
PROPERTY, PLANT AND EQUIPMENT (Tables)	Dec. 31, 2019
Property, plant and equipment [abstract]
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Fixed income securities and other $ 480 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 275 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares (common shares and warrants) 802 Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,856 ) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 219 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (686 ) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value The significant unobservable inputs (Level 3) included in the discounted cash flow models used when determining the fair value of standing timber and agricultural assets include: Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2019 2018 AS AT DEC. 31 Discount Rate Terminal Capitalization Rate Investment Horizon (years) Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 7.0 % 5.6 % 12 6.9 % 5.6 % 12 Canada 5.9 % 5.2 % 10 6.0 % 5.4 % 10 Australia 6.8 % 5.9 % 10 7.0 % 6.2 % 10 Europe 4.6 % 4.1 % 11 n/a n/a n/a Brazil 7.9 % 7.4 % 10 9.6 % 7.7 % 6 Core retail 6.7 % 5.4 % 10 7.1 % 6.0 % 12 LP investments and other LP investments office 10.0 % 7.3 % 7 10.2 % 7.0 % 6 LP investments retail 8.8 % 7.3 % 10 8.9 % 7.8 % 9 Mixed-use 7.6 % 5.4 % 10 7.8 % 5.4 % 10 Logistics 1 5.8 % n/a n/a 9.3 % 8.3 % 10 Multifamily 1 5.1 % n/a n/a 4.8 % n/a n/a Triple net lease 1 6.3 % n/a n/a 6.3 % n/a n/a Self-storage 1 5.6 % n/a n/a 5.7 % n/a n/a Student housing 1 5.8 % n/a n/a 5.6 % n/a n/a Manufactured housing 1 5.5 % n/a n/a 5.4 % n/a n/a Directly-held real estate properties 2 5.2% – 9.2% 6.1 % 19 7.4 % 6.8 % 10 Other investment properties 1 8.9 % n/a n/a 9.3 % n/a n/a 1. Multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. Key valuation metrics of the company’s utilities, transport, energy, data infrastructure and sustainable resources assets at the end of 2019 and 2018 are summarized below. Utilities Transport Energy Data Infrastructure Sustainable Resources AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Discount rates 7 – 14% 7 – 14% 9 – 14% 10 – 13% 12 – 15% 12 – 15% 13 – 15% 13 – 15% 5 – 10% 5 – 8% Terminal capitalization multiples 8x – 21x 8x – 22x 9x – 14x 9x – 14x 10x – 17x 10x – 14x 11x – 17x 10x – 11x 5x – 10x 12x – 23x Investment horizon / Exit date (years) 10 – 20 10 – 20 10 – 20 10 – 20 5 – 10 10 10 – 11 10 3 – 21 3 – 30 Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2019 and 2018 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Discount rate Contracted 4.6 – 4.9% 4.8 – 5.6% 8.2 % 9.0 % 9.0 % 9.6 % 3.5 % 4.0 – 4.3% Uncontracted 6.2 – 6.4% 6.4 – 7.2% 9.5 % 10.3 % 10.3 % 10.9 % 5.3 % 5.8 – 6.1% Terminal capitalization rate 1 6.2 – 6.4% 6.1 – 7.1% n/a n/a 9.8 % 10.4 % n/a n/a Exit date 2040 2039 2047 2047 2039 2038 2034 2033 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. the following significant unobservable inputs as part of our valuation: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate / multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date / terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year
Disclosure of Power Generating Assets [Table Text Block]	Key assumptions on contracted generation and future power pricing are summarized below: Total Generation Contracted under Power Purchase Agreements Power Prices from Long-Term Power Purchase Agreements (weighted average) Estimates of Future Electricity Prices (weighted average) AS AT DEC. 31, 2019 1 – 10 years 11 – 20 years 1 – 10 years 11 – 20 years 1 – 10 years 11 – 20 years North America (prices in US$/MWh) 47 % 17 % 95 87 62 122 Brazil (prices in R$/MWh) 68 % 33 % 295 407 273 411 Colombia (prices in COP$/MWh) 25 % — % 217,000 272,000 257,000 358,000 Europe (prices in €/MWh) 71 % 13 % 82 102 75 84
Disclosure of detailed information about property, plant and equipment	a) Renewable Power Our renewable power property, plant and equipment consists of the following: Hydroelectric Wind Solar and Other Total AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Cost, beginning of year $ 13,868 $ 14,667 $ 8,576 $ 7,622 $ 3,664 $ 2,702 $ 26,108 $ 24,991 Changes in basis of accounting 83 — 321 — 3 — 407 — Additions, net of disposals and assets reclassified as held for sale 162 189 (342 ) (21 ) 280 (684 ) 100 (516 ) Acquisitions through business combinations — — 566 1,184 742 1,784 1,308 2,968 Foreign currency translation (14 ) (988 ) (54 ) (209 ) (35 ) (138 ) (103 ) (1,335 ) Cost, end of year 14,099 13,868 9,067 8,576 4,654 3,664 27,820 26,108 Accumulated fair value changes, beginning of year 15,416 12,176 2,079 1,053 765 51 18,260 13,280 Fair value changes 1,369 3,688 669 1,221 195 702 2,233 5,611 Dispositions and assets reclassified as held for sale — — (126 ) — (35 ) — (161 ) — Foreign currency translation 142 (448 ) (34 ) (195 ) 25 12 133 (631 ) Accumulated fair value changes, end of year 16,927 15,416 2,588 2,079 950 765 20,465 18,260 Accumulated depreciation, beginning of year (3,879 ) (3,564 ) (1,358 ) (1,008 ) (260 ) (109 ) (5,497 ) (4,681 ) Depreciation expenses (532 ) (547 ) (502 ) (416 ) (245 ) (192 ) (1,279 ) (1,155 ) Dispositions and assets reclassified as held for sale 7 5 101 6 9 35 117 46 Foreign currency translation (8 ) 227 (22 ) 60 (1 ) 6 (31 ) 293 Accumulated depreciation, end of year (4,412 ) (3,879 ) (1,781 ) (1,358 ) (497 ) (260 ) (6,690 ) (5,497 ) Balance, end of year $ 26,614 $ 25,405 $ 9,874 $ 9,297 $ 5,107 $ 4,169 $ 41,595 $ 38,871 c) Real Estate Cost Accumulated Fair Value Changes Accumulated Depreciation Total AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Balance, beginning of year $ 7,713 $ 5,854 $ 1,045 $ 798 $ (1,106 ) $ (873 ) $ 7,652 $ 5,779 Changes in basis of accounting 769 — — — — — 769 — Additions/(dispositions) 1 , net of assets reclassified as held for sale 514 352 (2 ) 5 37 43 549 400 Acquisitions through business combinations 785 1,748 — — — — 785 1,748 Foreign currency translation 109 (241 ) — (3 ) (15 ) 27 94 (217 ) Fair value changes — — 323 245 — — 323 245 Depreciation expenses — — — — (443 ) (303 ) (443 ) (303 ) Balance, end of year $ 9,890 $ 7,713 $ 1,366 $ 1,045 $ (1,527 ) $ (1,106 ) $ 9,729 $ 7,652 1. For accumulated depreciation, (additions)/dispositions. The following table presents the changes to the carrying value of the company’s property, plant and equipment assets included in these operations: Cost Accumulated Impairment Accumulated Depreciation Total AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Balance, beginning of year $ 9,027 $ 4,050 $ (434 ) $ (231 ) $ (1,472 ) $ (1,086 ) $ 7,121 $ 2,733 Changes in basis of accounting 1,032 — — — — — 1,032 — Additions/(dispositions) 1 , net of assets reclassified as held for sale 477 360 — 1 332 72 809 433 Acquisitions through business combinations 6,650 4,915 — — — — 6,650 4,915 Foreign currency translation 83 (298 ) (13 ) 15 (44 ) 78 26 (205 ) Depreciation expenses — — — — (1,274 ) (536 ) (1,274 ) (536 ) Impairment charges — — (196 ) (219 ) — — (196 ) (219 ) Balance, end of year $ 17,269 $ 9,027 $ (643 ) $ (434 ) $ (2,458 ) $ (1,472 ) $ 14,168 $ 7,121 1. For accumulated depreciation, (additions)/dispositions. The following table presents our renewable power property, plant and equipment measured at fair value by geography: AS AT DEC. 31 2019 2018 North America $ 25,617 $ 24,274 Colombia 7,353 6,665 Europe 3,770 3,748 Brazil 3,575 3,505 Other 1 1,280 679 $ 41,595 $ 38,871 1. Other refers primarily to China, India and Chile in 2019 and China, India, Chile and Uruguay in 2018. The company’s property, plant and equipment relates to the operating segments as shown below: Renewable Power (a) Infrastructure (b) Real Estate (c) Private Equity and Other (d) Total AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Costs $ 27,820 $ 26,108 $ 22,454 $ 12,059 $ 9,890 $ 7,713 $ 17,269 $ 9,027 $ 77,433 $ 54,907 Accumulated fair value changes 20,465 18,260 3,777 3,480 1,366 1,045 (643 ) (434 ) 24,965 22,351 Accumulated depreciation (6,690 ) (5,497 ) (2,459 ) (1,889 ) (1,527 ) (1,106 ) (2,458 ) (1,472 ) (13,134 ) (9,964 ) Total 1,2 $ 41,595 $ 38,871 $ 23,772 $ 13,650 $ 9,729 $ 7,652 $ 14,168 $ 7,121 $ 89,264 $ 67,294 1. Includes amounts reclassified to held for sale. 2. As at December 31, 2019, the total includes $3.7 billion of property, plant and equipment leased to third parties as operating leases. Our ROU PP&E assets include $2.2 billion in our Infrastructure segment, $796 million in our Real Estate segment, $1.1 billion in our Renewable Power segment and $1.3 billion in Private Equity and other segments, totaling $5.4 billion of ROU assets. b) Infrastructure Our infrastructure property, plant and equipment consists of the following: Utilities Transport Energy Data Infrastructure Sustainable Resources and Other Total AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Cost, beginning of year $ 4,020 $ 3,473 $ 2,485 $ 2,655 $ 4,681 $ 2,630 $ 444 $ — $ 429 $ 495 $ 12,059 $ 9,253 Changes in basis of accounting 21 — 356 — 197 — 633 — — — 1,207 — Additions, net of disposals and assets reclassified as held for sale 7 422 171 73 164 146 (44 ) 4 (25 ) (2 ) 273 643 Acquisitions through business combinations — 394 5,284 — 3,332 2,111 94 440 — — 8,710 2,945 Foreign currency translation 138 (269 ) 9 (243 ) 69 (206 ) 4 — (15 ) (64 ) 205 (782 ) Cost, end of year 4,186 4,020 8,305 2,485 8,443 4,681 1,131 444 389 429 22,454 12,059 Accumulated fair value changes, beginning of year 1,401 1,256 810 873 822 629 — — 447 514 3,480 3,272 Disposition and assets reclassified as held for sale (416 ) — — — — — — — (37 ) — (453 ) — Fair value changes 347 218 45 18 317 224 — — 6 12 715 472 Foreign currency translation 36 (73 ) (6 ) (81 ) 5 (31 ) — — — (79 ) 35 (264 ) Accumulated fair value changes, end of year 1,368 1,401 849 810 1,144 822 — — 416 447 3,777 3,480 Accumulated depreciation, beginning of year (613 ) (509 ) (744 ) (687 ) (492 ) (383 ) — — (40 ) (43 ) (1,889 ) (1,622 ) Depreciation expenses (171 ) (148 ) (178 ) (147 ) (328 ) (134 ) (87 ) — (10 ) (8 ) (774 ) (437 ) Dispositions and assets reclassified as held for sale 204 5 (25 ) 22 46 7 — — 7 4 232 38 Foreign currency translation (16 ) 39 (3 ) 68 (10 ) 18 (1 ) — 2 7 (28 ) 132 Accumulated depreciation, end of year (596 ) (613 ) (950 ) (744 ) (784 ) (492 ) (88 ) — (41 ) (40 ) (2,459 ) (1,889 ) Balance, end of year $ 4,958 $ 4,808 $ 8,204 $ 2,551 $ 8,803 $ 5,011 $ 1,043 $ 444 $ 764 $ 836 $ 23,772 $ 13,650

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
INTANGIBLE ASSETS (Tables)	Dec. 31, 2019
Intangible assets other than goodwill [abstract]
Schedule of detailed information about intangible assets	The following table presents the breakdown of, and changes to, the balance of the company’s intangible assets: Cost Accumulated Amortization and Impairment Total AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 Balance, beginning of year $ 20,304 $ 15,251 $ (1,542 ) $ (1,009 ) $ 18,762 $ 14,242 Additions 1 445 288 — — 445 288 Disposals (499 ) (22 ) 132 16 (367 ) (6 ) Acquisitions through business combinations 10,333 6,590 — — 10,333 6,590 Amortization — — (1,141 ) (659 ) (1,141 ) (659 ) Foreign currency translation (351 ) (1,803 ) 29 110 (322 ) (1,693 ) Balance, end of year $ 30,232 $ 20,304 $ (2,522 ) $ (1,542 ) $ 27,710 $ 18,762 1. Includes assets sold and amounts reclassified to held for sale. The following table presents intangible assets by geography: AS AT DEC. 31 2019 2018 Brazil $ 6,413 $ 6,270 United States 6,826 2,986 Canada 2,263 2,051 Mexico 1,200 — Australia 1,985 1,873 United Kingdom 2,637 1,860 Europe 2,090 144 Peru 1,161 1,118 Chile 814 928 India 1,045 843 Other 1,276 689 $ 27,710 $ 18,762 Intangible assets are allocated to the following operating segments: AS AT DEC. 31 Note 2019 2018 Infrastructure (a) $ 14,388 $ 11,641 Private equity (b) 11,650 5,523 Real estate (c) 1,301 1,179 Renewable power and other 371 419 $ 27,710 $ 18,762
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Fixed income securities and other $ 480 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 275 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares (common shares and warrants) 802 Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,856 ) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 219 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (686 ) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value The significant unobservable inputs (Level 3) included in the discounted cash flow models used when determining the fair value of standing timber and agricultural assets include: Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2019 2018 AS AT DEC. 31 Discount Rate Terminal Capitalization Rate Investment Horizon (years) Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 7.0 % 5.6 % 12 6.9 % 5.6 % 12 Canada 5.9 % 5.2 % 10 6.0 % 5.4 % 10 Australia 6.8 % 5.9 % 10 7.0 % 6.2 % 10 Europe 4.6 % 4.1 % 11 n/a n/a n/a Brazil 7.9 % 7.4 % 10 9.6 % 7.7 % 6 Core retail 6.7 % 5.4 % 10 7.1 % 6.0 % 12 LP investments and other LP investments office 10.0 % 7.3 % 7 10.2 % 7.0 % 6 LP investments retail 8.8 % 7.3 % 10 8.9 % 7.8 % 9 Mixed-use 7.6 % 5.4 % 10 7.8 % 5.4 % 10 Logistics 1 5.8 % n/a n/a 9.3 % 8.3 % 10 Multifamily 1 5.1 % n/a n/a 4.8 % n/a n/a Triple net lease 1 6.3 % n/a n/a 6.3 % n/a n/a Self-storage 1 5.6 % n/a n/a 5.7 % n/a n/a Student housing 1 5.8 % n/a n/a 5.6 % n/a n/a Manufactured housing 1 5.5 % n/a n/a 5.4 % n/a n/a Directly-held real estate properties 2 5.2% – 9.2% 6.1 % 19 7.4 % 6.8 % 10 Other investment properties 1 8.9 % n/a n/a 9.3 % n/a n/a 1. Multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. Key valuation metrics of the company’s utilities, transport, energy, data infrastructure and sustainable resources assets at the end of 2019 and 2018 are summarized below. Utilities Transport Energy Data Infrastructure Sustainable Resources AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Discount rates 7 – 14% 7 – 14% 9 – 14% 10 – 13% 12 – 15% 12 – 15% 13 – 15% 13 – 15% 5 – 10% 5 – 8% Terminal capitalization multiples 8x – 21x 8x – 22x 9x – 14x 9x – 14x 10x – 17x 10x – 14x 11x – 17x 10x – 11x 5x – 10x 12x – 23x Investment horizon / Exit date (years) 10 – 20 10 – 20 10 – 20 10 – 20 5 – 10 10 10 – 11 10 3 – 21 3 – 30 Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2019 and 2018 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Discount rate Contracted 4.6 – 4.9% 4.8 – 5.6% 8.2 % 9.0 % 9.0 % 9.6 % 3.5 % 4.0 – 4.3% Uncontracted 6.2 – 6.4% 6.4 – 7.2% 9.5 % 10.3 % 10.3 % 10.9 % 5.3 % 5.8 – 6.1% Terminal capitalization rate 1 6.2 – 6.4% 6.1 – 7.1% n/a n/a 9.8 % 10.4 % n/a n/a Exit date 2040 2039 2047 2047 2039 2038 2034 2033 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. the following significant unobservable inputs as part of our valuation: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate / multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date / terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
GOODWILL (Tables)	Dec. 31, 2019
Goodwill [Abstract]
Disclosure of reconciliation of changes in goodwill	The following table presents the breakdown of, and changes to, the balance of goodwill: Cost Accumulated Impairment Total AS AT AND FOR THE YEARS ENDED DEC. 31 2019 2018 2019 2018 2019 2018 Balance, beginning of year $ 9,198 $ 5,707 $ (383 ) $ (390 ) $ 8,815 $ 5,317 Acquisitions through business combinations 6,125 4,158 — — 6,125 4,158 Impairment losses — — (453 ) — (453 ) — Foreign currency translation and other 1 89 (667 ) (26 ) 7 63 (660 ) Balance, end of year $ 15,412 $ 9,198 $ (862 ) $ (383 ) $ 14,550 $ 8,815 1. Includes adjustment to goodwill based on final purchase price allocation.
Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]	The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of Level 3 financial instruments: (MILLIONS) Type of Asset/Liability Carrying Value Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Fixed income securities and other $ 480 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Corporate bonds 275 Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value Common shares (common shares and warrants) 802 Black-Scholes model • Volatility • Increases (decreases) in volatility increase (decreases) fair value • Term to maturity • Increases (decreases) in term to maturity increase (decrease) fair value Limited-life funds (subsidiary equity obligations) (1,856 ) Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value Derivative assets/Derivative liabilities (accounts receivable/payable) 219 / Discounted cash flows • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value (686 ) • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value The significant unobservable inputs (Level 3) included in the discounted cash flow models used when determining the fair value of standing timber and agricultural assets include: Valuation Techniques Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis • Future cash flows • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Timber / agricultural prices • Increases (decreases) in price increase (decrease) fair value • Increases (decreases) in price tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from price • Discount rate /terminal capitalization rate • Increases (decreases) in discount rate or terminal capitalization rate decrease (increase) fair value • Decreases (increases) in discount rates or terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from rates • Exit Date • Increases (decreases) in exit date decrease (increase) fair value • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The significant Level 3 inputs include: Valuation Technique Significant Unobservable Inputs Relationship of Unobservable Inputs to Fair Value Mitigating Factors Discounted cash flow analysis 1 • Future cash flows – primarily driven by net operating income • Increases (decreases) in future cash flows increase (decrease) fair value • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in fair value from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) fair value • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) fair value • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in fair value from terminal capitalization rates • Investment horizon • Increases (decreases) in the investment horizon decrease (increase) fair value • Increases (decreases) in the investment horizon tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year 1. Certain investment properties are valued using the direct capitalization method instead of a discounted cash flow model. Under the direct capitalization method, a capitalization rate is applied to estimated current year cash flows. The following table summarizes the key valuation metrics of the company’s investment properties: 2019 2018 AS AT DEC. 31 Discount Rate Terminal Capitalization Rate Investment Horizon (years) Discount Rate Terminal Capitalization Rate Investment Horizon (years) Core office United States 7.0 % 5.6 % 12 6.9 % 5.6 % 12 Canada 5.9 % 5.2 % 10 6.0 % 5.4 % 10 Australia 6.8 % 5.9 % 10 7.0 % 6.2 % 10 Europe 4.6 % 4.1 % 11 n/a n/a n/a Brazil 7.9 % 7.4 % 10 9.6 % 7.7 % 6 Core retail 6.7 % 5.4 % 10 7.1 % 6.0 % 12 LP investments and other LP investments office 10.0 % 7.3 % 7 10.2 % 7.0 % 6 LP investments retail 8.8 % 7.3 % 10 8.9 % 7.8 % 9 Mixed-use 7.6 % 5.4 % 10 7.8 % 5.4 % 10 Logistics 1 5.8 % n/a n/a 9.3 % 8.3 % 10 Multifamily 1 5.1 % n/a n/a 4.8 % n/a n/a Triple net lease 1 6.3 % n/a n/a 6.3 % n/a n/a Self-storage 1 5.6 % n/a n/a 5.7 % n/a n/a Student housing 1 5.8 % n/a n/a 5.6 % n/a n/a Manufactured housing 1 5.5 % n/a n/a 5.4 % n/a n/a Directly-held real estate properties 2 5.2% – 9.2% 6.1 % 19 7.4 % 6.8 % 10 Other investment properties 1 8.9 % n/a n/a 9.3 % n/a n/a 1. Multifamily, triple net lease, self-storage, student housing, manufactured housing and other investment properties are valued using the direct capitalization method. The rates presented as the discount rate represent the overall implied capitalization rate. The terminal capitalization rate and the investment horizon are not applicable. Key valuation metrics of the company’s utilities, transport, energy, data infrastructure and sustainable resources assets at the end of 2019 and 2018 are summarized below. Utilities Transport Energy Data Infrastructure Sustainable Resources AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 Discount rates 7 – 14% 7 – 14% 9 – 14% 10 – 13% 12 – 15% 12 – 15% 13 – 15% 13 – 15% 5 – 10% 5 – 8% Terminal capitalization multiples 8x – 21x 8x – 22x 9x – 14x 9x – 14x 10x – 17x 10x – 14x 11x – 17x 10x – 11x 5x – 10x 12x – 23x Investment horizon / Exit date (years) 10 – 20 10 – 20 10 – 20 10 – 20 5 – 10 10 10 – 11 10 3 – 21 3 – 30 Key valuation metrics of the company’s hydroelectric, wind and solar generating facilities at the end of 2019 and 2018 are summarized below. North America Brazil Colombia Europe AS AT DEC. 31 2019 2018 2019 2018 2019 2018 2019 2018 Discount rate Contracted 4.6 – 4.9% 4.8 – 5.6% 8.2 % 9.0 % 9.0 % 9.6 % 3.5 % 4.0 – 4.3% Uncontracted 6.2 – 6.4% 6.4 – 7.2% 9.5 % 10.3 % 10.3 % 10.9 % 5.3 % 5.8 – 6.1% Terminal capitalization rate 1 6.2 – 6.4% 6.1 – 7.1% n/a n/a 9.8 % 10.4 % n/a n/a Exit date 2040 2039 2047 2047 2039 2038 2034 2033 1. Terminal capitalization rate applies only to hydroelectric assets in North America and Colombia. the following significant unobservable inputs as part of our valuation: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate • Increases (decreases) in terminal capitalization rate decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date • Increases (decreases) in the exit date decrease (increase) the recoverable amount • Increases (decreases) in the exit date tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year The recoverable amounts used in goodwill impairment testing are calculated using discounted cash flow models based on the following significant unobservable inputs: Valuation Technique Significant Unobservable Input(s) Relationship of Unobservable Input(s) to Fair Value Mitigating Factor(s) Discounted cash flow models • Future cash flows • Increases (decreases) in future cash flows increase (decrease) the recoverable amount • Increases (decreases) in cash flows tend to be accompanied by increases (decreases) in discount rates that may offset changes in recoverable amounts from cash flows • Discount rate • Increases (decreases) in discount rate decrease (increase) the recoverable amount • Increases (decreases) in discount rates tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from discount rates • Terminal capitalization rate / multiple • Increases (decreases) in terminal capitalization rate/multiple decrease (increase) the recoverable amount • Increases (decreases) in terminal capitalization rates/multiple tend to be accompanied by increases (decreases) in cash flows that may offset changes in recoverable amounts from terminal capitalization rates • Exit date / terminal year of cash flows • Increases (decreases) in the exit date/terminal year of cash flows decrease (increase) the recoverable amount • Increases (decreases) in the exit date/terminal year of cash flows tend to be the result of changing cash flow profiles that may result in higher (lower) growth in cash flows prior to stabilizing in the terminal year

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2019
Income Taxes [Abstract]
Schedule of components of income tax expense	The following table reconciles consolidated income taxes to current and deferred income taxes: FOR THE YEARS ENDED DEC. 31 2019 2018 Current income tax expense $ (970 ) $ (861 ) Deferred income tax recovery 475 1,109 Income tax (expense) recovery $ (495 ) $ 248 The major components of income tax expense for the years ended December 31, 2019 and 2018 are set out below: FOR THE YEARS ENDED DEC. 31 2019 2018 Current income tax expense $ 970 $ 861 Deferred income tax expense / (recovery) Origination and reversal of temporary differences 281 143 Expense arising from previously unrecognized tax assets (647 ) (955 ) Change of tax rates and new legislation (109 ) (297 ) Total deferred income tax recovery (475 ) (1,109 ) Income tax expense (recovery) $ 495 $ (248 )
Schedule of income tax rates	The company’s effective income tax rate is different from the company’s domestic statutory income tax rate due to the following differences set out below: FOR THE YEARS ENDED DEC. 31 2019 2018 Statutory income tax rate 26 % 26 % Increase (reduction) in rate resulting from: Change in tax rates and new legislation (2 ) (4 ) International operations subject to different tax rates (7 ) (3 ) Taxable income attributable to non-controlling interests (4 ) (8 ) Portion of gains subject to different tax rates (1 ) (4 ) Recognition of deferred tax assets (9 ) (12 ) Non-recognition of the benefit of current year’s tax losses 4 1 Other 1 1 Effective income tax rate 8 % (3 )%
Schedule of deferred income tax assets and liabilities	Deferred income tax assets and liabilities as at December 31, 2019 and 2018 relate to the following: AS AT DEC. 31 2019 2018 Non-capital losses (Canada) $ 848 $ 685 Capital losses (Canada) 80 108 Losses (U.S.) 3,102 2,219 Losses (International) 705 645 Difference in basis (16,012 ) (13,161 ) Total net deferred tax liabilities $ (11,277 ) $ (9,504 )
Disclosure of unrecognized deferred tax assets	The following table details the expiry date, if applicable, of the unrecognized deferred tax assets: AS AT DEC. 31 2019 2018 One year from reporting date $ 22 $ 16 Two years from reporting date 9 — Three years from reporting date 14 2 After three years from reporting date 1,159 1,125 Do not expire 1,632 1,526 Total $ 2,836 $ 2,669
Schedule of components of income taxes in other comprehensive income	The components of the income taxes in other comprehensive income for the years ended December 31, 2019 and 2018 are set out below: FOR THE YEARS ENDED DEC. 31 2019 2018 Revaluation of property, plant and equipment $ 623 $ 1,302 Financial contracts and power sale agreements 6 26 Fair value through OCI securities 88 10 Foreign currency translation (8 ) 69 Revaluation of pension obligation (6 ) 7 Total deferred tax in other comprehensive income $ 703 $ 1,414

CORPORATE BORROWINGS (Tables)

CORPORATE BORROWINGS (Tables)	12 Months Ended
CORPORATE BORROWINGS (Tables)	Dec. 31, 2019
Disclosure of financial liabilities [abstract]
Disclosure of corporate borrowings	AS AT DEC. 31 Maturity Annual Rate Currency 2019 2018 Term debt Public – Canadian Apr. 9, 2019 3.95 % C$ $ — $ 440 Public – Canadian Mar. 1, 2021 5.30 % C$ 269 257 Public – Canadian Mar. 31, 2023 4.54 % C$ 463 441 Public – Canadian Mar. 8, 2024 5.04 % C$ 385 367 Public – U.S. Apr. 1 , 2024 4.00 % US$ 749 749 Public – U.S. Jan. 15, 2025 4.00 % US$ 500 500 Public – Canadian Jan. 28, 2026 4.82 % C$ 664 633 Public – U.S. Jun. 2, 2026 4.25 % US$ 497 496 Public – Canadian Mar. 16, 2027 3.80 % C$ 385 366 Public – U.S. Jan. 25, 2028 3.90 % US$ 649 648 Public – U.S. Mar. 29, 2029 4.85 % US$ 998 — Public – U.S. Mar. 1, 2033 7.38 % US$ 250 250 Public – Canadian Jun. 14, 2035 5.95 % C$ 325 309 Private – Japanese Dec. 1, 2038 1.42 % JPY 92 91 Public – U.S. Sep. 20, 2047 4.70 % US$ 902 903 7,128 6,450 Deferred financing costs 1 (45 ) (41 ) Total $ 7,083 $ 6,409 1. Deferred financing costs are amortized to interest expense over the term of the borrowing using the effective interest method. NON-RECOURSE BORROWINGS OF MANAGED ENTITIES AS AT DEC. 31 Note 2019 2018 Subsidiary borrowings (a) $ 8,423 $ 8,600 Property-specific borrowings (b) 127,869 103,209 Total $ 136,292 $ 111,809 a) Subsidiary Borrowings Principal repayments on subsidiary borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2020 $ — $ — $ — $ — $ 17 $ 17 2021 443 — — — 36 479 2022 — 308 347 — 541 1,196 2023 308 — — — 227 535 2024 1,294 299 1,359 — 57 3,009 Thereafter — 1,501 768 — 949 3,218 Total Principal repayments 2,045 2,108 2,474 — 1,827 8,454 Deferred financing costs and other (21 ) (10 ) (4 ) — 4 (31 ) Total – Dec. 31, 2019 $ 2,024 $ 2,098 $ 2,470 $ — $ 1,831 $ 8,423 Total – Dec. 31, 2018 $ 2,504 $ 2,328 $ 1,993 $ 52 $ 1,723 $ 8,600 The weighted-average interest rate on subsidiary borrowings as at December 31, 2019 was 4.3% ( 2018 – 4.5% ). The current and non-current balances of subsidiary borrowings are as follows: AS AT DEC. 31 2019 2018 Current $ 17 $ 395 Non-current 8,406 8,205 Total $ 8,423 $ 8,600 Subsidiary borrowings by currency include the following: AS AT DEC. 31 2019 Local Currency 2018 Local Currency U.S. dollars $ 5,162 US$ 5,162 $ 6,846 US$ 6,846 Canadian dollars 3,078 C$ 3,998 1,613 C$ 2,200 Brazilian reais 183 Rs 737 — Rs — Australian dollars — A$ — 141 A$ 200 Total $ 8,423 $ 8,600 b) Property-Specific Borrowings Principal repayments on property-specific borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2020 $ 9,871 $ 1,556 $ 2,740 $ 1,438 $ 91 $ 15,696 2021 11,796 1,073 1,044 868 38 14,819 2022 7,784 1,168 1,707 1,487 19 12,165 2023 6,876 1,841 3,012 1,524 13 13,266 2024 11,181 797 3,043 2,947 136 18,104 Thereafter 20,945 9,377 9,365 15,363 — 55,050 Total Principal repayments 68,453 15,812 20,911 23,627 297 129,100 Deferred financing costs and other (544 ) (25 ) (135 ) (522 ) (5 ) (1,231 ) Total – Dec. 31, 2019 $ 67,909 $ 15,787 $ 20,776 $ 23,105 $ 292 $ 127,869 Total – Dec. 31, 2018 $ 63,494 $ 14,233 $ 14,334 $ 10,820 $ 328 $ 103,209 The weighted-average interest rate on property-specific borrowings as at December 31, 2019 was 4.7% ( 2018 – 5.0% ). The current and non-current balances of property-specific borrowings are as follows: AS AT DEC. 31 2019 2018 Current $ 15,696 $ 10,764 Non-current 112,173 92,445 Total $ 127,869 $ 103,209 Property-specific borrowings by currency include the following: AS AT DEC. 31 2019 Local Currency 2018 Local Currency U.S. dollars $ 84,203 US$ 84,203 $ 72,747 US$ 72,747 British pounds 9,812 £ 7,401 7,200 £ 5,643 Canadian dollars 7,955 C$ 10,333 6,285 C$ 8,573 European Union euros 6,844 € 6,103 3,264 € 2,846 Australian dollars 4,815 A$ 6,861 2,968 A$ 4,210 Indian rupees 4,143 Rs 295,106 2,026 Rs 140,694 Brazilian reais 3,969 R$ 15,998 3,825 R$ 14,820 Colombian pesos 2,029 COP$ 6,671,818 1,855 COP$ 6,025,270 Korean won 1,959 ₩ 2,264,478 1,613 ₩ 1,797,415 Chilean unidades de fomento 1,099 UF 29 837 UF 21 Other currencies 1,041 n/a n/a 589 n/a n/a Total $ 127,869 $ 103,209 Property-specific borrowings by currency include the following: AS AT DEC. 31 2019 Local Currency 2018 Local Currency U.S. dollars $ 84,203 US$ 84,203 $ 72,747 US$ 72,747 British pounds 9,812 £ 7,401 7,200 £ 5,643 Canadian dollars 7,955 C$ 10,333 6,285 C$ 8,573 European Union euros 6,844 € 6,103 3,264 € 2,846 Australian dollars 4,815 A$ 6,861 2,968 A$ 4,210 Indian rupees 4,143 Rs 295,106 2,026 Rs 140,694 Brazilian reais 3,969 R$ 15,998 3,825 R$ 14,820 Colombian pesos 2,029 COP$ 6,671,818 1,855 COP$ 6,025,270 Korean won 1,959 ₩ 2,264,478 1,613 ₩ 1,797,415 Chilean unidades de fomento 1,099 UF 29 837 UF 21 Other currencies 1,041 n/a n/a 589 n/a n/a Total $ 127,869 $ 103,209 The current and non-current balances of subsidiary borrowings are as follows: AS AT DEC. 31 2019 2018 Current $ 17 $ 395 Non-current 8,406 8,205 Total $ 8,423 $ 8,600 Principal repayments on subsidiary borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2020 $ — $ — $ — $ — $ 17 $ 17 2021 443 — — — 36 479 2022 — 308 347 — 541 1,196 2023 308 — — — 227 535 2024 1,294 299 1,359 — 57 3,009 Thereafter — 1,501 768 — 949 3,218 Total Principal repayments 2,045 2,108 2,474 — 1,827 8,454 Deferred financing costs and other (21 ) (10 ) (4 ) — 4 (31 ) Total – Dec. 31, 2019 $ 2,024 $ 2,098 $ 2,470 $ — $ 1,831 $ 8,423 Total – Dec. 31, 2018 $ 2,504 $ 2,328 $ 1,993 $ 52 $ 1,723 $ 8,600 Principal repayments on property-specific borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2020 $ 9,871 $ 1,556 $ 2,740 $ 1,438 $ 91 $ 15,696 2021 11,796 1,073 1,044 868 38 14,819 2022 7,784 1,168 1,707 1,487 19 12,165 2023 6,876 1,841 3,012 1,524 13 13,266 2024 11,181 797 3,043 2,947 136 18,104 Thereafter 20,945 9,377 9,365 15,363 — 55,050 Total Principal repayments 68,453 15,812 20,911 23,627 297 129,100 Deferred financing costs and other (544 ) (25 ) (135 ) (522 ) (5 ) (1,231 ) Total – Dec. 31, 2019 $ 67,909 $ 15,787 $ 20,776 $ 23,105 $ 292 $ 127,869 Total – Dec. 31, 2018 $ 63,494 $ 14,233 $ 14,334 $ 10,820 $ 328 $ 103,209 Subsidiary borrowings by currency include the following: AS AT DEC. 31 2019 Local Currency 2018 Local Currency U.S. dollars $ 5,162 US$ 5,162 $ 6,846 US$ 6,846 Canadian dollars 3,078 C$ 3,998 1,613 C$ 2,200 Brazilian reais 183 Rs 737 — Rs — Australian dollars — A$ — 141 A$ 200 Total $ 8,423 $ 8,600 The current and non-current balances of property-specific borrowings are as follows: AS AT DEC. 31 2019 2018 Current $ 15,696 $ 10,764 Non-current 112,173 92,445 Total $ 127,869 $ 103,209 AS AT DEC. 31 Note 2019 2018 Subsidiary borrowings (a) $ 8,423 $ 8,600 Property-specific borrowings (b) 127,869 103,209 Total $ 136,292 $ 111,809

ACCOUNTS PAYABLE AND OTHER (Tab

ACCOUNTS PAYABLE AND OTHER (Tables) - USD ($) $ in Millions	12 Months Ended
ACCOUNTS PAYABLE AND OTHER (Tables) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Subclassifications of assets, liabilities and equities [abstract]
Operating expense	$ 52,728	$ 45,519
Schedule of accounts payable and other liabilities	AS AT DEC. 31 2019 2018 Accounts payable $ 9,583 $ 6,873 Provisions 4,104 2,830 Lease liabilities 5,494 — Other liabilities 23,896 14,286 Total $ 43,077 $ 23,989
Disclosure of current and non-current accounts payable and other [Table Text Block]	The current and non-current balances of accounts payable, provisions and other liabilities are as follows: AS AT DEC. 31 2019 2018 Current $ 23,212 $ 14,337 Non-current 19,865 9,652 Total $ 43,077 $ 23,989
Schedule of post-employment benefit plans	AS AT DEC. 31 2019 2018 Plan assets $ 3,029 $ 1,981 Less accrued benefit obligation: Defined benefit pension plan (3,995 ) (2,548 ) Other post-employment benefits (173 ) (148 ) Net liability (1,139 ) (715 ) Less: net actuarial gains (losses) and other 13 (10 ) Accrued benefit liability $ (1,126 ) $ (725 )

NON-RECOURSE BORROWINGS (Tables

NON-RECOURSE BORROWINGS (Tables)	12 Months Ended
NON-RECOURSE BORROWINGS (Tables)	Dec. 31, 2019
Disclosure of financial liabilities [abstract]
Disclosure of detailed information about borrowings	AS AT DEC. 31 Maturity Annual Rate Currency 2019 2018 Term debt Public – Canadian Apr. 9, 2019 3.95 % C$ $ — $ 440 Public – Canadian Mar. 1, 2021 5.30 % C$ 269 257 Public – Canadian Mar. 31, 2023 4.54 % C$ 463 441 Public – Canadian Mar. 8, 2024 5.04 % C$ 385 367 Public – U.S. Apr. 1 , 2024 4.00 % US$ 749 749 Public – U.S. Jan. 15, 2025 4.00 % US$ 500 500 Public – Canadian Jan. 28, 2026 4.82 % C$ 664 633 Public – U.S. Jun. 2, 2026 4.25 % US$ 497 496 Public – Canadian Mar. 16, 2027 3.80 % C$ 385 366 Public – U.S. Jan. 25, 2028 3.90 % US$ 649 648 Public – U.S. Mar. 29, 2029 4.85 % US$ 998 — Public – U.S. Mar. 1, 2033 7.38 % US$ 250 250 Public – Canadian Jun. 14, 2035 5.95 % C$ 325 309 Private – Japanese Dec. 1, 2038 1.42 % JPY 92 91 Public – U.S. Sep. 20, 2047 4.70 % US$ 902 903 7,128 6,450 Deferred financing costs 1 (45 ) (41 ) Total $ 7,083 $ 6,409 1. Deferred financing costs are amortized to interest expense over the term of the borrowing using the effective interest method. NON-RECOURSE BORROWINGS OF MANAGED ENTITIES AS AT DEC. 31 Note 2019 2018 Subsidiary borrowings (a) $ 8,423 $ 8,600 Property-specific borrowings (b) 127,869 103,209 Total $ 136,292 $ 111,809 a) Subsidiary Borrowings Principal repayments on subsidiary borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2020 $ — $ — $ — $ — $ 17 $ 17 2021 443 — — — 36 479 2022 — 308 347 — 541 1,196 2023 308 — — — 227 535 2024 1,294 299 1,359 — 57 3,009 Thereafter — 1,501 768 — 949 3,218 Total Principal repayments 2,045 2,108 2,474 — 1,827 8,454 Deferred financing costs and other (21 ) (10 ) (4 ) — 4 (31 ) Total – Dec. 31, 2019 $ 2,024 $ 2,098 $ 2,470 $ — $ 1,831 $ 8,423 Total – Dec. 31, 2018 $ 2,504 $ 2,328 $ 1,993 $ 52 $ 1,723 $ 8,600 The weighted-average interest rate on subsidiary borrowings as at December 31, 2019 was 4.3% ( 2018 – 4.5% ). The current and non-current balances of subsidiary borrowings are as follows: AS AT DEC. 31 2019 2018 Current $ 17 $ 395 Non-current 8,406 8,205 Total $ 8,423 $ 8,600 Subsidiary borrowings by currency include the following: AS AT DEC. 31 2019 Local Currency 2018 Local Currency U.S. dollars $ 5,162 US$ 5,162 $ 6,846 US$ 6,846 Canadian dollars 3,078 C$ 3,998 1,613 C$ 2,200 Brazilian reais 183 Rs 737 — Rs — Australian dollars — A$ — 141 A$ 200 Total $ 8,423 $ 8,600 b) Property-Specific Borrowings Principal repayments on property-specific borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2020 $ 9,871 $ 1,556 $ 2,740 $ 1,438 $ 91 $ 15,696 2021 11,796 1,073 1,044 868 38 14,819 2022 7,784 1,168 1,707 1,487 19 12,165 2023 6,876 1,841 3,012 1,524 13 13,266 2024 11,181 797 3,043 2,947 136 18,104 Thereafter 20,945 9,377 9,365 15,363 — 55,050 Total Principal repayments 68,453 15,812 20,911 23,627 297 129,100 Deferred financing costs and other (544 ) (25 ) (135 ) (522 ) (5 ) (1,231 ) Total – Dec. 31, 2019 $ 67,909 $ 15,787 $ 20,776 $ 23,105 $ 292 $ 127,869 Total – Dec. 31, 2018 $ 63,494 $ 14,233 $ 14,334 $ 10,820 $ 328 $ 103,209 The weighted-average interest rate on property-specific borrowings as at December 31, 2019 was 4.7% ( 2018 – 5.0% ). The current and non-current balances of property-specific borrowings are as follows: AS AT DEC. 31 2019 2018 Current $ 15,696 $ 10,764 Non-current 112,173 92,445 Total $ 127,869 $ 103,209 Property-specific borrowings by currency include the following: AS AT DEC. 31 2019 Local Currency 2018 Local Currency U.S. dollars $ 84,203 US$ 84,203 $ 72,747 US$ 72,747 British pounds 9,812 £ 7,401 7,200 £ 5,643 Canadian dollars 7,955 C$ 10,333 6,285 C$ 8,573 European Union euros 6,844 € 6,103 3,264 € 2,846 Australian dollars 4,815 A$ 6,861 2,968 A$ 4,210 Indian rupees 4,143 Rs 295,106 2,026 Rs 140,694 Brazilian reais 3,969 R$ 15,998 3,825 R$ 14,820 Colombian pesos 2,029 COP$ 6,671,818 1,855 COP$ 6,025,270 Korean won 1,959 ₩ 2,264,478 1,613 ₩ 1,797,415 Chilean unidades de fomento 1,099 UF 29 837 UF 21 Other currencies 1,041 n/a n/a 589 n/a n/a Total $ 127,869 $ 103,209 Property-specific borrowings by currency include the following: AS AT DEC. 31 2019 Local Currency 2018 Local Currency U.S. dollars $ 84,203 US$ 84,203 $ 72,747 US$ 72,747 British pounds 9,812 £ 7,401 7,200 £ 5,643 Canadian dollars 7,955 C$ 10,333 6,285 C$ 8,573 European Union euros 6,844 € 6,103 3,264 € 2,846 Australian dollars 4,815 A$ 6,861 2,968 A$ 4,210 Indian rupees 4,143 Rs 295,106 2,026 Rs 140,694 Brazilian reais 3,969 R$ 15,998 3,825 R$ 14,820 Colombian pesos 2,029 COP$ 6,671,818 1,855 COP$ 6,025,270 Korean won 1,959 ₩ 2,264,478 1,613 ₩ 1,797,415 Chilean unidades de fomento 1,099 UF 29 837 UF 21 Other currencies 1,041 n/a n/a 589 n/a n/a Total $ 127,869 $ 103,209 The current and non-current balances of subsidiary borrowings are as follows: AS AT DEC. 31 2019 2018 Current $ 17 $ 395 Non-current 8,406 8,205 Total $ 8,423 $ 8,600 Principal repayments on subsidiary borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2020 $ — $ — $ — $ — $ 17 $ 17 2021 443 — — — 36 479 2022 — 308 347 — 541 1,196 2023 308 — — — 227 535 2024 1,294 299 1,359 — 57 3,009 Thereafter — 1,501 768 — 949 3,218 Total Principal repayments 2,045 2,108 2,474 — 1,827 8,454 Deferred financing costs and other (21 ) (10 ) (4 ) — 4 (31 ) Total – Dec. 31, 2019 $ 2,024 $ 2,098 $ 2,470 $ — $ 1,831 $ 8,423 Total – Dec. 31, 2018 $ 2,504 $ 2,328 $ 1,993 $ 52 $ 1,723 $ 8,600 Principal repayments on property-specific borrowings due over the next five calendar years and thereafter are as follows: (MILLIONS) Real Estate Renewable Power Infrastructure Private Equity Residential Development Total 2020 $ 9,871 $ 1,556 $ 2,740 $ 1,438 $ 91 $ 15,696 2021 11,796 1,073 1,044 868 38 14,819 2022 7,784 1,168 1,707 1,487 19 12,165 2023 6,876 1,841 3,012 1,524 13 13,266 2024 11,181 797 3,043 2,947 136 18,104 Thereafter 20,945 9,377 9,365 15,363 — 55,050 Total Principal repayments 68,453 15,812 20,911 23,627 297 129,100 Deferred financing costs and other (544 ) (25 ) (135 ) (522 ) (5 ) (1,231 ) Total – Dec. 31, 2019 $ 67,909 $ 15,787 $ 20,776 $ 23,105 $ 292 $ 127,869 Total – Dec. 31, 2018 $ 63,494 $ 14,233 $ 14,334 $ 10,820 $ 328 $ 103,209 Subsidiary borrowings by currency include the following: AS AT DEC. 31 2019 Local Currency 2018 Local Currency U.S. dollars $ 5,162 US$ 5,162 $ 6,846 US$ 6,846 Canadian dollars 3,078 C$ 3,998 1,613 C$ 2,200 Brazilian reais 183 Rs 737 — Rs — Australian dollars — A$ — 141 A$ 200 Total $ 8,423 $ 8,600 The current and non-current balances of property-specific borrowings are as follows: AS AT DEC. 31 2019 2018 Current $ 15,696 $ 10,764 Non-current 112,173 92,445 Total $ 127,869 $ 103,209 AS AT DEC. 31 Note 2019 2018 Subsidiary borrowings (a) $ 8,423 $ 8,600 Property-specific borrowings (b) 127,869 103,209 Total $ 136,292 $ 111,809

SUBSIDIARY EQUITY OBLIGATIONS (

SUBSIDIARY EQUITY OBLIGATIONS (Tables)	12 Months Ended
SUBSIDIARY EQUITY OBLIGATIONS (Tables)	Dec. 31, 2019
Disclosure of financial liabilities [abstract]
Disclosure of Equity Interest Classified as Liabilities [Text Block]	SUBSIDIARY EQUITY OBLIGATIONS Subsidiary equity obligations consist of the following: AS AT DEC. 31 Note 2019 2018 Subsidiary preferred equity units (a) $ 1,650 $ 1,622 Limited-life funds and redeemable fund units (b) 1,896 1,724 Subsidiary preferred shares and capital (c) 586 530 Total $ 4,132 $ 3,876 a) Subsidiary Preferred Equity Units In 2014, BPY issued $1.8 billion of exchangeable preferred equity units in three $600 million tranches redeemable in 2021, 2024 and 2026, respectively. The preferred equity units are exchangeable into equity units of BPY at $25.70 per unit, at the option of the holder, at any time up to and including the maturity date. BPY may redeem the preferred equity units after specified periods if the BPY equity unit price exceeds predetermined amounts. At maturity, the preferred equity units that remain outstanding will be converted into BPY equity units at the lower of $25.70 or the then market price of a BPY equity unit. The preferred equity units represent a compound financial instrument comprised of the financial liability representing the company’s obligations to redeem the preferred equity units at maturity for a variable number of BPY units and an equity instrument representing the holder’s right to convert the preferred equity units to a fixed number of BPY units. The company is required under certain circumstances to purchase the preferred equity units at their redemption value in equal amounts in 2021 and 2024 and may be required to purchase the 2026 tranche, as further described in Note 29(a). AS AT DEC. 31 Shares Outstanding Cumulative Dividend Rate Local Currency 2019 2018 Series 1 24,000,000 6.25 % US$ $ 574 $ 562 Series 2 24,000,000 6.50 % US$ 546 537 Series 3 24,000,000 6.75 % US$ 530 523 Total $ 1,650 $ 1,622 b) Limited-Life Funds and Redeemable Fund Units Limited-life funds and redeemable fund units represent interests held in our consolidated funds by third-party investors that have been classified as a liability rather than as non-controlling interest, as holders of these interests can cause our funds to redeem their interest in the fund for cash equivalents at a specified time. As at December 31, 2019 , we have $1.9 billion of subsidiary equity obligations arising from limited-life funds and redeemable fund units ( 2018 – $1.7 billion arising from limited-life funds). In our real estate business, limited-life fund obligations include $921 million ( 2018 – $813 million ) of equity interests held by third-party investors in two consolidated funds that have been classified as a liability, instead of non-controlling interest, as holders of these interests can cause the funds to redeem their interests in the fund for cash equivalents at the fair value of the interest at a set date. As at December 31, 2019 , we have $934 million ( 2018 – $826 million ) of subsidiary equity obligations arising from limited-life fund units in our infrastructure business. These obligations are primarily composed of the portion of the equity interest held by third-party investors in our timberland and agriculture funds that are attributed to the value of the land held in the fund. The value of this equity interest has been classified as a liability, instead of non-controlling interest, as we are obligated to purchase the land from the third-party investors on maturity of the fund. We also have $41 million of redeemable fund units (2018 – $85 million ) in certain funds managed by our public securities business. c) Subsidiary Preferred Shares and Capital Preferred shares are classified as liabilities if the holders of the preferred shares have the right, after a fixed date, to convert the shares into common equity of the issuer based on the market price of the common equity of the issuer at that time unless they are previously redeemed by the issuer. The dividends paid on these securities are recorded in interest expense. As at December 31, 2019 and 2018 , the balance related to obligations of BPY and its subsidiaries. AS AT DEC. 31 Shares Outstanding Cumulative Dividend Rate Local Currency 2019 2018 Brookfield Property Split Corp (“BOP Split”) senior preferred shares Series 1 924,390 5.25 % US$ $ 23 $ 23 Series 2 699,165 5.75 % C$ 13 13 Series 3 909,814 5.00 % C$ 18 17 Series 4 940,486 5.20 % C$ 18 17 BSREP II RH B LLC (“Manufactured Housing”) preferred capital — 9.00 % US$ 249 249 Rouse Series A preferred shares 5,600,000 5.00 % US$ 142 142 BSREP II Vintage Estate Partners LLC (“Vintage Estates”) preferred shares 10,000 5.00 % US$ 40 40 BIP Investment Corporation Series 1 Senior preferred shares 4,000,000 5.85 % C$ 73 — Forest City Enterprises L.P. (“Forest City”) & Other Preferred Capital 387,079 2.00 % US$ 10 29 Total $ 586 $ 530 Each series of the BOP Split senior preferred shares are redeemable at the option of either the issuer or the holder as the redemption and conversion option dates have passed. Subsidiary preferred capital includes $249 million at December 31, 2019 ( 2018 – $249 million ) of preferred equity interests held by a third-party investor in Manufactured Housing which has been classified as a liability, rather than as non-controlling interest, due to the fact the holders are only entitled to distributions equal to their capital balance plus 9% annual return payable in monthly distributions until maturity in December 2025. The preferred capital was issued to partially fund the acquisition of the Manufactured Housing portfolio during the first quarter of 2017. Subsidiary preferred shares include $ 142 million at December 31, 2019 ( 2018 – $142 million ) of preferred equity interests held by a third-party investor in Rouse Properties, L.P., which have been classified as a liability, rather than as non-controlling interests, due to the fact that the interests have no voting rights and are mandatorily redeemable on or after November 12, 2025 for a set price per unit plus any accrued but unpaid distributions; distributions are capped and accrue regardless of available cash generated.
Disclosure of transactions between related parties [text block]	The following table lists the related party balances included within the consolidated financial statements for the years ended December 31, 2019 and 2018 : FOR THE YEARS ENDED DEC. 31 2019 2018 Management fees received $ 97 $ 56
Disclosure of detailed information about equity interests classified as liabilities [Table Text Block]	AS AT DEC. 31 Shares Outstanding Cumulative Dividend Rate Local Currency 2019 2018 Series 1 24,000,000 6.25 % US$ $ 574 $ 562 Series 2 24,000,000 6.50 % US$ 546 537 Series 3 24,000,000 6.75 % US$ 530 523 Total $ 1,650 $ 1,622 As at December 31, 2019 and 2018 , the balance related to obligations of BPY and its subsidiaries. AS AT DEC. 31 Shares Outstanding Cumulative Dividend Rate Local Currency 2019 2018 Brookfield Property Split Corp (“BOP Split”) senior preferred shares Series 1 924,390 5.25 % US$ $ 23 $ 23 Series 2 699,165 5.75 % C$ 13 13 Series 3 909,814 5.00 % C$ 18 17 Series 4 940,486 5.20 % C$ 18 17 BSREP II RH B LLC (“Manufactured Housing”) preferred capital — 9.00 % US$ 249 249 Rouse Series A preferred shares 5,600,000 5.00 % US$ 142 142 BSREP II Vintage Estate Partners LLC (“Vintage Estates”) preferred shares 10,000 5.00 % US$ 40 40 BIP Investment Corporation Series 1 Senior preferred shares 4,000,000 5.85 % C$ 73 — Forest City Enterprises L.P. (“Forest City”) & Other Preferred Capital 387,079 2.00 % US$ 10 29 Total $ 586 $ 530 Subsidiary equity obligations consist of the following: AS AT DEC. 31 Note 2019 2018 Subsidiary preferred equity units (a) $ 1,650 $ 1,622 Limited-life funds and redeemable fund units (b) 1,896 1,724 Subsidiary preferred shares and capital (c) 586 530 Total $ 4,132 $ 3,876

SUBSIDIARY PUBLIC ISSUERS AND_2

SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY (Tables)	12 Months Ended
SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY (Tables)	Dec. 31, 2019
Disclosure of subsidiaries [abstract]
Schedule of interests in subsidiaries	The following table presents the details of the company’s subsidiaries with significant non-controlling interests: Jurisdiction of Formation Ownership Interest Held by Non-Controlling Interests 1, 2 AS AT DEC. 31 2019 2018 Brookfield Property Partners L.P. (“BPY”) Bermuda 44.8 % 46.2 % Brookfield Renewable Partners L.P. (“BEP”) Bermuda 39.5 % 39.5 % Brookfield Infrastructure Partners L.P. (“BIP”) Bermuda 70.4 % 70.5 % Brookfield Business Partners L.P. (“BBU”) Bermuda 37.3 % 32.0 % 1. Control and associated voting rights of the limited partnerships (BPY, BEP, BIP and BBU) resides with their respective general partners which are wholly owned subsidiaries of the company. The company’s general partner interest is entitled to earn base management fees and incentive payments in the form of incentive distribution rights or performance fees. 2. The company’s ownership interest in BPY, BEP, BIP and BBU includes a combination of redemption-exchange units (REUs), Class A limited partnership units, special limited partnership units, general partnership units and units or shares that are exchangeable for units in our listed partnerships, in each subsidiary, where applicable. Each of BPY, BEP, BIP and BBU’s partnership capital includes its Class A limited partnership units whereas REUs and general partnership units are considered non-controlling interests for the respective partnerships. REUs share the same economic attributes in all respects except for the redemption right attached thereto. The REUs and general partnership units participate in earnings and distributions on a per unit basis equivalent to the per unit participation of the Class A limited partnership units of the subsidiary. The following tables contain summarized financial information of the Corporation, BFI, BFL, BIC and non-guarantor subsidiaries: AS AT AND FOR THE YEAR ENDED DEC. 31, 2019 The Corporation 1 BFI BFL BIC Subsidiaries of the Corporation 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 104 $ 148 $ — $ 105 $ 73,310 $ (5,841 ) $ 67,826 Net income attributable to shareholders 2,807 40 — 85 3,493 (3,618 ) 2,807 Total assets 70,976 5,389 — 3,520 331,698 (87,614 ) 323,969 Total liabilities 35,963 3,994 — 2,239 195,586 (30,659 ) 207,123 AS AT AND FOR THE YEAR ENDED DEC. 31, 2018 The Corporation 1 BFI BFL BIC Subsidiaries of the Corporation 2 Consolidating Adjustments 3 The Company Consolidated Revenues $ 810 $ 43 $ 53 $ 163 $ 62,984 $ (7,282 ) $ 56,771 Net income attributable to shareholders 3,584 (46 ) (1 ) 145 4,506 (4,604 ) 3,584 Total assets 59,105 4,330 13 3,296 271,534 (81,997 ) 256,281 Total liabilities 29,290 2,909 6 2,198 154,458 (29,730 ) 159,131 1. This column accounts for investments in all subsidiaries of the Corporation under the equity method. 2. This column accounts for investments in all subsidiaries of the Corporation other than BFI, BFL and BIC on a combined basis. 3. This column includes the necessary amounts to present the company on a consolidated basis.

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
EQUITY (Tables)	Dec. 31, 2019
Equity [abstract]
Disclosure of indirect measurement of fair value of goods or services received, other equity instruments granted during period [text block]	The weighted-average fair value of escrowed shares granted for the year ended December 31, 2019 was $6.81 (2018 – $5.38 ), and was determined using the Black-Scholes model of valuation with inputs to the model as follows: FOR THE YEARS ENDED DEC. 31 Unit 2019 2018 Weighted-average share price US$ 51.11 40.39 Average term to exercise Years 8.5 7.5 Share price volatility 1 % 17.3 16.3 Liquidity discount % 25 25 Weighted-average annual dividend yield % 1.8 1.9 Risk-free rate % 2.1 2.8 1. Share price volatility was determined based on historical share prices over a similar period to the average term to exercise.
Disclosure of components of common equity	The company’s common equity is comprised of the following: AS AT DEC. 31, 2019 AND 2018 2019 2018 Common shares $ 7,305 $ 4,457 Contributed surplus 286 271 Retained earnings 16,026 14,244 Ownership changes 1,010 645 Accumulated other comprehensive income 6,241 6,030 Common equity $ 30,868 $ 25,647
Schedule of equity	The number of issued and outstanding common shares and unexercised options are as follows: AS AT DEC. 31, 2019 AND 2018 2019 2018 Class A shares 1 1,006,110,641 955,057,721 Class B shares 85,120 85,120 Shares outstanding 1 1,006,195,761 955,142,841 Unexercised options and other share-based plans 2 46,678,774 42,086,712 Total diluted shares 1,052,874,535 997,229,553 1. Net of 42,278,231 Class A shares held by the company in respect of long-term compensation agreements as at December 31, 2019 (2018 – 37,538,531 ). 2. Includes management share option plan and escrowed stock plan Non-controlling interests represent the common and preferred equity in consolidated entities that are owned by other shareholders. AS AT DEC. 31 2019 2018 Common equity $ 76,557 $ 62,109 Preferred equity 5,276 5,226 Total $ 81,833 $ 67,335 Equity consists of the following: AS AT DEC. 31 Note 2019 2018 Preferred equity (a) $ 4,145 $ 4,168 Non-controlling interests (b) 81,833 67,335 Common equity (c) 30,868 25,647 $ 116,846 $ 97,150 Shares issued and outstanding changed as follows: FOR THE YEARS ENDED DEC. 31 2019 2018 Outstanding, beginning of year 1 955,142,841 958,773,120 Issued (repurchased) Issuances 52,757,437 — Repurchases (7,188,534 ) (9,579,740 ) Long-term share ownership plans 2 5,346,417 5,752,331 Dividend reinvestment plan and others 137,600 197,130 Outstanding, end of year 3 1,006,195,761 955,142,841 1. Net of 37,538,531 Class A shares held by the company in respect of long-term compensation agreements as at December 31, 2018 (2017 – 30,569,215 ). 2. Includes management share option plan and restricted stock plan. 3. Net of 42,278,231 Class A shares held by the company in respect of long-term compensation agreements as at December 31, 2019 (2018 – 37,538,531 ). Preferred equity includes perpetual preferred shares and rate-reset preferred shares and consists of the following: Average Rate AS AT DEC. 31 2019 2018 2019 2018 Perpetual preferred shares Floating rate 2.91 % 2.90 % $ 531 $ 531 Fixed rate 4.82 % 4.82 % 739 744 4.02 % 4.02 % 1,270 1,275 Fixed rate-reset preferred shares 4.28 % 4.26 % 2,875 2,893 4.20 % 4.19 % $ 4,145 $ 4,168 Further details on each series of preferred shares are as follows: Issued and Outstanding AS AT DEC. 31 Rate 2019 2018 2019 2018 Class A preferred shares Perpetual preferred shares Series 2 70% P 10,457,685 10,457,685 $ 169 $ 169 Series 4 70% P/8.5% 2,795,910 2,795,910 45 45 Series 8 Variable up to P 2,476,185 2,476,185 42 42 Series 13 70% P 9,290,096 9,290,096 195 195 Series 15 B.A. + 40 b.p. 1 2,000,000 2,000,000 42 42 Series 17 4.75 % 7,840,204 7,901,476 171 172 Series 18 4.75 % 7,866,749 7,921,178 178 179 Series 25 3-Month T-Bill + 230 b.p. 1,529,133 1,529,133 38 38 Series 36 4.85 % 7,842,909 7,900,764 197 199 Series 37 4.90 % 7,830,091 7,888,143 193 194 1,270 1,275 Rate-reset preferred shares 2 Series 9 2.75 % 1,515,981 1,515,981 21 21 Series 24 3.01 % 9,278,894 9,338,572 227 228 Series 26 3.47 % 9,770,928 9,840,588 240 241 Series 28 2.73 % 9,233,927 9,289,397 232 233 Series 30 4.69 % 9,787,090 9,852,258 241 243 Series 32 3 5.06 % 11,750,299 11,849,808 297 300 Series 34 4 4.44 % 9,876,735 9,926,620 253 254 Series 38 4.40 % 7,906,132 7,955,948 179 180 Series 40 5 4.03 % 11,841,025 11,914,515 271 273 Series 42 4.50 % 11,887,500 11,943,400 266 268 Series 44 5.00 % 9,831,929 9,882,879 187 188 Series 46 4.80 % 11,740,797 11,810,653 217 219 Series 48 4.75 % 11,885,972 11,961,701 244 245 2,875 2,893 Total $ 4,145 $ 4,168 1. Rate determined quarterly. 2. Dividend rates are fixed for 5 to 6 years from the quarter end dates after issuance, June 30, 2011, March 31, 2012, June 30, 2012, December 31, 2012, September 30, 2013, March 31, 2014, June 30, 2014, December 31, 2014, December 31, 2015, December 31, 2016 and December 31, 2017, respectively and reset after 5 to 6 years to the 5 -year Government of Canada bond rate plus between 180 and 417 basis points. 3. Dividend rate reset commenced September 30, 2018. 4. Dividend rate reset commenced March 31, 2019. 5. Dividend rate reset commenced September 30, 2019. P – Prime Rate, B.A. – Bankers’ Acceptance Rate, b.p. – Basis Points.
Schedule of basic and diluted earnings per share	The components of basic and diluted earnings per share are summarized in the following table: FOR THE YEARS ENDED DEC. 31 2019 2018 Net income attributable to shareholders $ 2,807 $ 3,584 Preferred share dividends (152 ) (151 ) Dilutive effect of conversion of subsidiary preferred shares (74 ) (105 ) Net income available to shareholders $ 2,581 $ 3,328 Weighted average – common shares 968.6 957.6 Dilutive effect of the conversion of options and escrowed shares using treasury stock method 23.7 19.8 Common shares and common share equivalents 992.3 977.4
Schedule of expense recognized for share-based compensation	The expense recognized for share-based compensation is summarized in the following table: FOR THE YEARS ENDED DEC. 31 2019 2018 Expense arising from equity-settled share-based payment transactions $ 81 $ 73 Expense/(Recovery) arising from cash-settled share-based payment transactions 506 (64 ) Total expense arising from share-based payment transactions 587 9 Effect of hedging program (500 ) 75 Total expense included in consolidated income $ 87 $ 84
Schedule of number and weighted average exercise prices of share options	The change in the number of ES shares during 2019 and 2018 was as follows: Number of Units (000’s) Weighted- Average Exercise Price Outstanding at January 1, 2019 27,103 $ 33.27 Granted 10,650 51.11 Exercised (1,075 ) 23.66 Canceled (151 ) 39.48 Outstanding at December 31, 2019 36,527 $ 38.73 Number of Units (000’s) Weighted- Average Exercise Price Outstanding at January 1, 2018 27,772 $ 29.01 Granted 5,815 40.39 Exercised (6,484 ) 21.40 Outstanding at December 31, 2018 27,103 $ 33.27 The changes in the number of options during 2019 and 2018 were as follows: TSX NYSE Number of Options (000’s) 1 Weighted- Average Exercise Price Number of Options (000’s) 2 Weighted- Average Exercise Price Outstanding at January 1, 2019 790 C$ 11.77 36,742 US$ 29.52 Granted — — 5,077 45.63 Exercised (790 ) 11.77 (7,831 ) 20.26 Canceled — — (186 ) 40.02 Outstanding at December 31, 2019 — C$ — 33,802 US$ 34.03 1. Options to acquire TSX listed Class A shares. 2. Options to acquire NYSE listed Class A shares. TSX NYSE Number of Options (000’s) 1 Weighted- Average Exercise Price Number of Options (000’s) 2 Weighted- Average Exercise Price Outstanding at January 1, 2018 2,797 C$ 12.35 34,893 US$ 27.71 Granted — — 4,538 40.42 Exercised (2,007 ) 12.59 (2,492 ) 23.58 Canceled — — (197 ) 34.81 Outstanding at December 31, 2018 790 C$ 11.77 36,742 US$ 29.52 1. Options to acquire TSX listed Class A shares. 2. Options to acquire NYSE listed Class A shares. The weighted-average fair value of options granted for the year ended December 31, 2019 was $5.89 (2018 – $5.38 ), and was determined using the Black-Scholes valuation model, with inputs to the model as follows: FOR THE YEARS ENDED DEC. 31 Unit 2019 2018 Weighted-average share price US$ 45.63 40.42 Average term to exercise Years 7.5 7.5 Share price volatility 1 % 16.9 16.3 Liquidity discount % 25.0 25.0 Weighted-average annual dividend yield % 2.0 1.9 Risk-free rate % 2.5 2.8 1. Share price volatility was determined based on historical share prices over a similar period to the average term to exercise. At December 31, 2019 , the following options to purchase Class A shares were outstanding: Options Outstanding (000’s) Exercise Price Weighted-Average Remaining Life Vested Unvested Total US$15.45 – US$23.02 1.6 years 3,746 — 3,746 US$23.37 – US$30.59 4.7 years 8,348 1,542 9,890 US$33.75 – US$40.39 6.8 years 7,581 7,514 15,095 US$44.24 – US$57.96 9.2 years 409 4,662 5,071 20,084 13,718 33,802 At December 31, 2018 , the following options to purchase Class A shares were outstanding: Options Outstanding (000’s) Exercise Price Weighted-Average Remaining Life Vested Unvested Total C$11.77 0.2 years 790 — 790 US$15.45 1.2 years 4,255 — 4,255 US$16.83 – US$23.37 2.8 years 5,160 — 5,160 US$25.21 – US$30.59 5.5 years 8,410 3,293 11,703 US$33.75 – US$36.32 6.1 years 2,873 2,115 4,988 US$36.88 – US$37.75 8.6 years 1,197 9,439 10,636 22,685 14,847 37,532

REVENUES (Tables)

REVENUES (Tables)	12 Months Ended
REVENUES (Tables)	Dec. 31, 2019
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Disclosure of maturity analysis of finance lease payments receivable [text block]	The following table presents the undiscounted contractual earnings receivable of the company’s leases by expected period of receipt: Payments Receivable by Period AS AT DEC. 31, 2019 (MILLIONS) Less than 1 Year 1 – 3 Years 4 – 5 Years After 5 Years Total Receivables from lease contracts $ 4,514 $ 8,239 $ 6,744 $ 15,875 $ 35,372
Disclosure of disaggregation of revenue [Table Text Block]	Revenue by Type FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) Asset Real Estate Renewable Infrastructure Private Equity Residential Development Corporate Total Revenue from contracts with customers $ 271 $ 3,833 $ 3,810 $ 6,333 $ 42,147 $ 2,396 $ 9 $ 58,799 Other revenue — 6,609 149 758 952 60 499 9,027 $ 271 $ 10,442 $ 3,959 $ 7,091 $ 43,099 $ 2,456 $ 508 $ 67,826 FOR THE YEAR ENDED DEC. 31, 2018 (MILLIONS) Asset Real Estate Renewable Infrastructure Private Equity Residential Development Corporate Total Revenue from contracts with customers $ 187 $ 3,107 $ 3,651 $ 4,859 $ 36,693 $ 2,651 $ 13 $ 51,161 Other revenue — 4,968 100 154 135 32 221 5,610 $ 187 $ 8,075 $ 3,751 $ 5,013 $ 36,828 $ 2,683 $ 234 $ 56,771
Disclosure of revenue from contracts with customers [text block]	Timing of Recognition of Revenue from Contracts with Customers FOR THE YEAR ENDED DEC. 31, 2019 (MILLIONS) Asset Real Estate Renewable Infrastructure Private Equity Residential Development Corporate Total Goods and services provided at a point in time $ — $ 1,193 $ 95 $ 225 $ 34,141 $ 2,384 $ 9 $ 38,047 Services transferred over a period of time 271 2,640 3,715 6,108 8,006 12 — 20,752 $ 271 $ 3,833 $ 3,810 $ 6,333 $ 42,147 $ 2,396 $ 9 $ 58,799 FOR THE YEAR ENDED DEC. 31, 2018 (MILLIONS) Asset Real Estate Renewable Infrastructure Private Equity Residential Development Corporate Total Goods and services provided at a point in time $ — $ 1,118 $ 79 $ 201 $ 28,860 $ 2,651 $ 13 $ 32,922 Services transferred over a period of time 187 1,989 3,572 4,658 7,833 — — 18,239 $ 187 $ 3,107 $ 3,651 $ 4,859 $ 36,693 $ 2,651 $ 13 $ 51,161

DIRECT COSTS (Tables)

DIRECT COSTS (Tables)	12 Months Ended
DIRECT COSTS (Tables)	Dec. 31, 2019
Analysis of income and expense [abstract]
Disclosure of direct costs	The following table lists direct costs for 2019 and 2018 by nature: FOR THE YEARS ENDED DEC. 31 2019 2018 Cost of sales $ 41,463 $ 37,506 Compensation 6,035 3,954 Selling, general and administrative expenses 2,612 1,765 Property taxes, sales taxes and other 2,618 2,294 $ 52,728 $ 45,519

FAIR VALUE CHANGES (Tables)

FAIR VALUE CHANGES (Tables)	12 Months Ended
FAIR VALUE CHANGES (Tables)	Dec. 31, 2019
Fair Value Measurement [Abstract]
Fair value changes	Fair value changes recorded in net income represent gains or losses arising from changes in the fair value of assets and liabilities, including derivative financial instruments, accounted for using the fair value method and are comprised of the following: FOR THE YEARS ENDED DEC. 31 2019 2018 Investment properties $ 1,710 $ 1,610 Transaction related (losses) gains, net of deal costs (895 ) 1,132 Financial contracts (140 ) (189 ) Impairment and provisions (825 ) (309 ) Other fair value changes (681 ) (450 ) $ (831 ) $ 1,794

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
Disclosure of detailed information about financial instruments [text block]	The aggregate notional amount of the company’s derivative positions at December 31, 2019 and 2018 is as follows: AS AT DEC. 31 Note 2019 2018 Foreign exchange (a) $ 37,334 $ 33,298 Interest rates (b) 51,619 38,490 Credit default swaps (c) 39 56 Equity derivatives (d) 2,517 1,375 Commodity instruments (e) 2019 2018 Energy (GWh) 25,136 14,752 Natural gas (MMBtu – 000’s) 78,364 63,076 The following table presents the change in fair values of the company’s derivative positions during the years ended December 31, 2019 and 2018 , for derivatives that are fair valued through profit or loss, and derivatives that qualify for hedge accounting: (MILLIONS) Unrealized Gains During 2019 Unrealized Losses During 2019 Net Change During 2019 Net Change During 2018 Foreign exchange derivatives $ 419 $ (218 ) $ 201 $ 457 Interest rate derivatives 43 (264 ) (221 ) (17 ) Credit default swaps — (1 ) (1 ) 3 Equity derivatives 24 (11 ) 13 (129 ) Commodity derivatives 56 (29 ) 27 (66 ) $ 542 $ (523 ) $ 19 $ 248 The following table presents the notional amounts underlying the company’s derivative instruments by term to maturity as at December 31, 2019 and 2018 , for derivatives that are classified as fair value through profit or loss, and derivatives that qualify for hedge accounting: 2019 2018 AS AT DEC. 31 <1 Year 1 to 5 Years >5 Years Total Notional Amount Total Notional Amount Fair value through profit or loss Foreign exchange derivatives $ 5,986 $ 1,803 $ 157 $ 7,946 $ 9,303 Interest rate derivatives 8,293 13,402 1,036 22,731 16,621 Credit default swaps 10 29 — 39 56 Equity derivatives 1,589 928 — 2,517 1,375 Commodity instruments Energy (GWh) 1,997 8,655 — 10,652 8,712 Natural gas (MMBtu – 000’s) 66,200 — — 66,200 54,653 Elected for hedge accounting Foreign exchange derivatives $ 15,935 $ 12,333 $ 1,119 $ 29,387 $ 23,995 Interest rate derivatives 6,489 18,405 3,994 28,888 21,869 Equity derivatives — — — — — Commodity instruments Energy (GWh) 7,880 4,596 2,009 14,485 6,040 Natural gas (MMBtu – 000’s) 12,164 — — 12,164 8,423 The company held the following foreign exchange contracts with notional amounts at December 31, 2019 and 2018 : Notional Amount (U.S. Dollars) Average Exchange Rate (MILLIONS) 2019 2018 2019 2018 Foreign exchange contracts Canadian dollars $ 6,839 $ 4,959 0.75 0.76 British pounds 7,874 4,952 1.27 1.32 European Union euros 2,069 3,829 1.16 1.21 Australian dollars 3,989 3,781 0.71 0.74 Indian rupee 240 697 73.55 72.73 Chilean peso 548 615 722.08 647.37 Korean won 1 687 561 1,173 1,102 Chinese yuan 1 1,862 543 5.42 6.85 Japanese yen 1 111 404 104.58 104.45 Colombian pesos 1 534 370 3,416 2,977 Brazilian reais 484 78 0.24 0.24 Swedish krona 1,578 94 9.10 7.87 Other currencies 584 436 various various Cross currency interest rate swaps Canadian dollars 4,493 4,167 0.77 0.75 European Union euros 103 1,914 1.09 1.06 Australian dollars 2,033 1,454 0.98 1.00 Japanese yen 1 18 750 110.00 113.32 British pounds 267 257 1.49 1.49 Colombian pesos 1 100 125 3,463 3,056 Other currencies — 15 — Various Foreign exchange futures Brazilian reais 38 — 0.25 — Foreign exchange options British pounds 1,338 1,736 1.43 1.31 Chinese yuan — 500 — 7.10 Indian rupee — 500 — 67.95 European Union euros 1,544 463 1.12 1.15 Other currencies — 98 — Various
Disclosure of derivatives elected for hedge accounting	The following table classifies derivatives elected for hedge accounting during the years ended December 31, 2019 and 2018 as either cash flow hedges or net investment hedges. Changes in the fair value of the effective portion of the hedge are recorded in either other comprehensive income or net income, depending on the hedge classification, whereas changes in the fair value of the ineffective portion of the hedge are recorded in net income: 2019 2018 FOR THE YEARS ENDED DEC. 31 (MILLIONS) Notional Effective Portion Ineffective Portion Notional Effective Portion Ineffective Portion Cash flow hedges 1 $ 32,709 $ (89 ) $ 20 $ 24,999 $ 38 $ (3 ) Net investment hedges 22,790 (433 ) 16 17,319 999 9 $ 55,499 $ (522 ) $ 36 $ 42,318 $ 1,037 $ 6 1. Notional amount does not include 14,485 GWh, 12,164 MMBtu – 000’s and 2,273 bbls – millions of commodity derivatives at December 31, 2019 ( 2018 – 6,040 GWh, 8,423 MMBtu – 000’s and 3,151 bbls – millions)

MANAGEMENT OF RISKS ARISING F_2

MANAGEMENT OF RISKS ARISING FROM HOLDING FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
Disclosure of maturity analysis for financial liabilities	The following tables present the contractual maturities of the company’s financial liabilities at December 31, 2019 and 2018 . Payments Due by Period AS AT DEC. 31, 2019 <1 Year 1 to 3 Years 4 to 5 Years After 5 Years Total Principal repayments Corporate borrowings $ — $ 269 $ 1,597 $ 5,217 $ 7,083 Non-recourse borrowings of managed entities 15,563 28,396 34,602 57,731 136,292 Subsidiary equity obligations 188 1,677 745 1,522 4,132 Interest expense 1 Corporate borrowings 327 629 551 1,714 3,221 Non-recourse borrowings 5,210 8,524 6,641 7,749 28,124 Subsidiary equity obligations 151 261 212 107 731 Lease Obligations 2 766 1,171 992 11,064 13,993 1. Represents the aggregated interest expense expected to be paid over the term of the obligations. Variable interest rate payments have been calculated based on current rates. 2. The lease obligations as disclosed in the table above include leases that are classified as finance leases, short-term leases, low-value leases and variable lease payments not based on an index or rate, which are immaterial. Payments Due by Period AS AT DEC. 31, 2018 <1 Year 1 to 3 Years 4 to 5 Years After 5 Years Total Principal repayments Corporate borrowings $ 440 $ 257 $ 441 $ 5,271 $ 6,409 Non-recourse borrowings of managed entities 11,159 34,055 24,633 41,962 111,809 Subsidiary equity obligations 185 1,417 356 1,918 3,876 Interest expense 1 Corporate borrowings 278 535 504 1,697 3,014 Non-recourse borrowings 5,126 8,124 5,820 7,324 26,394 Subsidiary equity obligations 151 307 218 209 885 1. Represents the aggregated interest expense expected to be paid over the term of the obligations. Variable interest rate payments have been calculated based on current rates

RELATED PARTY TRANSACTIONS RELA

RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2019
Related party transactions [abstract]
Remuneration of Directors and Other Key Management Personnel of the Company	The remuneration of key management personnel and Directors of the company during the years ended December 31, 2019 and 2018 was as follows: FOR THE YEARS ENDED DEC. 31 2019 2018 Salaries, incentives and short-term benefits $ 19 $ 21 Share-based payments 46 90 $ 65 $ 111
Related Party Balances included within the Consolidated Financial Statements	The following table lists the related party balances included within the consolidated financial statements for the years ended December 31, 2019 and 2018 : FOR THE YEARS ENDED DEC. 31 2019 2018 Management fees received $ 97 $ 56

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Impact of New Accounting Standard (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of initial application of standards or interpretations [line items]
Inventory	$ 10,272			$ 6,989
Investment properties	96,686			84,309	$ 56,870
Right-of-use assets	2,600
Property, plant and equipment	89,264			67,294
Total assets	323,969			256,281
Accounts payable and other	43,077	$ 43,077		23,989
Other liabilities	23,896			14,286
Total liabilities	207,123			159,131
Equity	116,846			97,150
Total liabilities and equity	323,969			256,281
Interest expense on lease liabilities	206
Previously stated
Disclosure of initial application of standards or interpretations [line items]
Inventory				6,989
Investment properties				84,309
Property, plant and equipment				67,294
Other assets				97,689
Total assets				256,281
Accounts payable and other				23,989
Other liabilities				135,142
Total liabilities				159,131
Equity				97,150	79,872
Total liabilities and equity				256,281
Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of initial application of standards or interpretations [line items]
Other assets				0
Total assets			$ 4,366
Accounts payable and other				4,366
Other liabilities				0
Total liabilities				4,366
Equity				0	(302)
Total liabilities and equity				4,366
IFRS 16 [Member]
Disclosure of initial application of standards or interpretations [line items]
Equity			97,150
Total liabilities and equity			260,647
Preferred equity \| Preferred shares
Disclosure of initial application of standards or interpretations [line items]
Equity	4,145			4,168
Preferred equity \| Previously stated \| Preferred shares
Disclosure of initial application of standards or interpretations [line items]
Equity				4,168	4,192
Preferred equity \| Increase (decrease) due to changes in accounting policy required by IFRSs [member] \| Preferred shares
Disclosure of initial application of standards or interpretations [line items]
Equity				0
Preferred equity \| IFRS 16 [Member] \| Preferred shares
Disclosure of initial application of standards or interpretations [line items]
Equity			4,168
Non-controlling interests
Disclosure of initial application of standards or interpretations [line items]
Equity	81,833			67,335
Non-controlling interests \| Preferred shares
Disclosure of initial application of standards or interpretations [line items]
Equity	5,276			5,226
Non-controlling interests \| Common shares
Disclosure of initial application of standards or interpretations [line items]
Equity	76,557			62,109
Non-controlling interests \| Previously stated
Disclosure of initial application of standards or interpretations [line items]
Equity				67,335	51,628
Non-controlling interests				67,335
Non-controlling interests \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of initial application of standards or interpretations [line items]
Equity					(84)
Non-controlling interests				0
Non-controlling interests \| IFRS 16 [Member]
Disclosure of initial application of standards or interpretations [line items]
Non-controlling interests			67,335
Common equity \| Common shares
Disclosure of initial application of standards or interpretations [line items]
Equity	30,868			25,647
Common equity \| Previously stated \| Common shares
Disclosure of initial application of standards or interpretations [line items]
Equity				25,647	24,052
Common equity \| Increase (decrease) due to changes in accounting policy required by IFRSs [member] \| Common shares
Disclosure of initial application of standards or interpretations [line items]
Equity				0	$ (218)
Common equity \| IFRS 16 [Member] \| Common shares
Disclosure of initial application of standards or interpretations [line items]
Equity			25,647
Inventory [Member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets				22
Investment property [member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	928			0
Property, plant and equipment [member]
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	5,400
Property, plant and equipment [member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	$ 88,500			$ 3,416
IFRS 16 [Member]
Disclosure of initial application of standards or interpretations [line items]
Inventory			7,011
Investment properties			85,237
Property, plant and equipment			70,710
Other assets			97,689
Total assets			260,647
Accounts payable and other			28,355
Other liabilities			135,142
Total liabilities			$ 163,497

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)year	Dec. 31, 2018USD ($)	Jan. 01, 2019USD ($)
Disclosure of initial application of standards or interpretations [line items]
Assets	$ 323,969	$ 256,281
Right-of-use assets	2,600
Interest expense on lease liabilities	206
Depreciation, right-of-use assets	459
Right of use assets, fair value changes	$ (63)
Renewable Power
Disclosure of initial application of standards or interpretations [line items]
Period In Which Cash Flow Are Discounted With A Residual Value Based On The Terminal Value Cash Flows	20 years
Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of initial application of standards or interpretations [line items]
Assets			$ 4,366
Australian regulated terminal [Member] \| Infrastructure
Disclosure of initial application of standards or interpretations [line items]
Remaining amortisation period of intangible assets material to entity \| year	81
Chilean Toll Road [Member] \| Infrastructure
Disclosure of initial application of standards or interpretations [line items]
Remaining amortisation period of intangible assets material to entity \| year	14
Indian Toll Road [Member] \| Infrastructure
Disclosure of initial application of standards or interpretations [line items]
Remaining amortisation period of intangible assets material to entity \| year	17
Peruvian Toll Road [Member] \| Infrastructure
Disclosure of initial application of standards or interpretations [line items]
Remaining amortisation period of intangible assets material to entity \| year	23
Investment property [member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	$ 928	0
Property, plant and equipment [member]
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	5,400
Property, plant and equipment [member] \| Renewable Power
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	1,100
Property, plant and equipment [member] \| Infrastructure
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	2,200
Property, plant and equipment [member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of initial application of standards or interpretations [line items]
Right-of-use assets	88,500	3,416
Brazil
Disclosure of initial application of standards or interpretations [line items]
Assets	$ 24,354	$ 22,539
Brazil \| Renewable Power
Disclosure of initial application of standards or interpretations [line items]
Weighted-average remaining duration, property, plant, and equipment	32 years	29 years
Top of range [member] \| Infrastructure
Disclosure of initial application of standards or interpretations [line items]
Period In Which Cash Flow Are Discounted With A Residual Value Based On The Terminal Value Cash Flows	20 years
Top of range [member] \| Sustainable Resources [Member] \| Infrastructure
Disclosure of initial application of standards or interpretations [line items]
Useful lives or depreciation rates, property, plant and equipment	30
Bottom of range [member] \| Infrastructure
Disclosure of initial application of standards or interpretations [line items]
Period In Which Cash Flow Are Discounted With A Residual Value Based On The Terminal Value Cash Flows	7 years
Bottom of range [member] \| Sustainable Resources [Member] \| Infrastructure
Disclosure of initial application of standards or interpretations [line items]
Useful lives or depreciation rates, property, plant and equipment	3

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES SIGNIFICANT ACCOUNTING POLICIES - Property, Plant, and Equipment (Details)	12 Months Ended
	Dec. 31, 2019
Dams [Member] \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	115
Penstocks [Member] \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	60
Powerhouses [Member] \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	115
Hydroelectric Generating Units [Member] \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	115
Wind Generating Units [Member] \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	41
Solar Generating units [Member] \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	30
Cogeneration Units [Member] \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	40
Other assets [member] \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	60
Buildings [member] \| Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	75
Buildings [member] \| Private Equity
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	50
Transmission stations, towers and related fixtures [Member] \| Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	40
Leasehold improvements [member] \| Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	50
Leasehold improvements [member] \| Private Equity
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	40
Plant and equipment [Member] \| Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	40
Network Systems [Member] \| Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	65
Rail And Transport Assets [Member] \| Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	40
District energy systems [Member] \| Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	50
Gas storage assets [Member] \| Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	50
Machinery And Equipment1 [Member] \| Private Equity
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	20
Ships [member] \| Private Equity
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	35
Hospitality Assets [Member] \| Buildings [member] \| Real Estate
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	60
Hospitality Assets [Member] \| Land improvements [Member] \| Real Estate
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	15
Hospitality Assets [Member] \| Furniture, fixtures and equipment \| Real Estate
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	15

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES SIGNIFICANT ACCOUNTING POLICIES - Intangible Assets Other Than Goodwill (Details) (Details) - Private Equity	12 Months Ended
	Dec. 31, 2019
Water and sewage concession agreements [Member]
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	40
Brand names [member]
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	20
Computer software [member]
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	10
Customer-related intangible assets [member]
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	30
Value of insurance contracts acquired [Domain]
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	15
Copyrights, patents and other industrial property rights, service and operating rights [member]
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	40
Technology-based intangible assets [member]
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	20
Capitalised development expenditure [member]
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	5
Distribution networks [Member]
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	25
Loyalty program [Member]
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	15

SEGMENTED INFORMATION - Narrati

SEGMENTED INFORMATION - Narrative (Details) $ in Millions	12 Months Ended
SEGMENTED INFORMATION - Narrative (Details) $ in Millions	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Disclosure of operating segments [line items]
Revenue	$ 67,826	$ 56,771
Interest expense	7,227	4,854
Funds From Operations From Equity Accounted Investments	2,641	2,372
Realized disposition gains in fair value changes or equity	621	1,445
Realized disposition gains related to prior periods	300	1,100
Realized disposition gains recorded directly in equity	$ 258	242
Number of operating business groups	5
Number of reportable segments	7
Realized Disposition Gain (Loss), in Fair Value Changes	$ 79	95
Asset management
Disclosure of operating segments [line items]
Revenue	271	187
Funds From Operations From Equity Accounted Investments	43	0
Private Equity
Disclosure of operating segments [line items]
Revenue	43,099	36,828
Funds From Operations From Equity Accounted Investments	320	526
Elimination of intersegment amounts
Disclosure of operating segments [line items]
Revenue	2,823	2,213
Intersegment interest income and other revenues	30	23
Interest expense	53	26
Elimination of intersegment amounts \| Asset management
Disclosure of operating segments [line items]
Revenue	2,343	1,760
Elimination of intersegment amounts \| Private Equity
Disclosure of operating segments [line items]
Revenue	479	442
Revenue from construction contracts	$ 450	$ 430

SEGMENTED INFORMATION - Financi

SEGMENTED INFORMATION - Financial Information by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of operating segments [line items]
Revenue	$ 67,826	$ 56,771
FFO from equity accounted investments	2,641	2,372
Interest expense	(7,227)	(4,854)
Current income taxes	(970)	(861)
Funds from operations	4,189	4,401
Equity	116,846	97,150
Equity accounted investments	40,698	33,647	$ 31,994
Additions to non-current assets1	62,658	75,817
Asset management
Disclosure of operating segments [line items]
Revenue	271	187
FFO from equity accounted investments	43	0
Current income taxes	0	0
Funds from operations	1,597	1,317
Equity accounted investments	4,599	0
Additions to non-current assets1	4,654	0
Real Estate
Disclosure of operating segments [line items]
Revenue	10,442	8,075
FFO from equity accounted investments	1,049	945
Current income taxes	(165)	(213)
Funds from operations	1,185	1,786
Equity accounted investments	22,314	22,949
Additions to non-current assets1	17,915	51,111
Renewable Power
Disclosure of operating segments [line items]
Revenue	3,959	3,751
FFO from equity accounted investments	74	46
Current income taxes	(73)	(32)
Funds from operations	333	328
Equity accounted investments	1,154	685
Additions to non-current assets1	2,207	3,729
Infrastructure
Disclosure of operating segments [line items]
Revenue	7,091	5,013
FFO from equity accounted investments	1,100	846
Current income taxes	(255)	(326)
Funds from operations	464	602
Equity accounted investments	8,972	7,636
Additions to non-current assets1	17,352	10,524
Private Equity
Disclosure of operating segments [line items]
Revenue	43,099	36,828
FFO from equity accounted investments	320	526
Current income taxes	(326)	(186)
Funds from operations	844	795
Equity accounted investments	2,596	1,943
Additions to non-current assets1	19,825	10,139
Residential Development
Disclosure of operating segments [line items]
Revenue	2,456	2,683
FFO from equity accounted investments	41	15
Current income taxes	(37)	(45)
Funds from operations	125	49
Equity accounted investments	382	395
Additions to non-current assets1	88	124
Corporate Activities
Disclosure of operating segments [line items]
Revenue	508	234
FFO from equity accounted investments	14	(6)
Current income taxes	(114)	(59)
Funds from operations	(359)	(476)
Equity accounted investments	681	39
Additions to non-current assets1	617	190
Elimination of intersegment amounts
Disclosure of operating segments [line items]
Revenue	2,823	2,213
Interest expense	(53)	(26)
Elimination of intersegment amounts \| Asset management
Disclosure of operating segments [line items]
Revenue	2,343	1,760
Elimination of intersegment amounts \| Real Estate
Disclosure of operating segments [line items]
Revenue	33	41
Elimination of intersegment amounts \| Renewable Power
Disclosure of operating segments [line items]
Revenue	15	11
Elimination of intersegment amounts \| Infrastructure
Disclosure of operating segments [line items]
Revenue	2	5
Elimination of intersegment amounts \| Private Equity
Disclosure of operating segments [line items]
Revenue	479	442
Elimination of intersegment amounts \| Residential Development
Disclosure of operating segments [line items]
Revenue	0	0
Elimination of intersegment amounts \| Corporate Activities
Disclosure of operating segments [line items]
Revenue	(49)	(46)
Operating segments
Disclosure of operating segments [line items]
Revenue	70,649	58,984
Interest expense	(7,280)	(4,880)
Operating segments \| Asset management
Disclosure of operating segments [line items]
Revenue	2,614	1,947
Interest expense	0	0
Operating segments \| Real Estate
Disclosure of operating segments [line items]
Revenue	10,475	8,116
Interest expense	(3,469)	(2,464)
Operating segments \| Renewable Power
Disclosure of operating segments [line items]
Revenue	3,974	3,762
Interest expense	(923)	(930)
Operating segments \| Infrastructure
Disclosure of operating segments [line items]
Revenue	7,093	5,018
Interest expense	(937)	(586)
Operating segments \| Private Equity
Disclosure of operating segments [line items]
Revenue	43,578	37,270
Interest expense	(1,536)	(520)
Operating segments \| Residential Development
Disclosure of operating segments [line items]
Revenue	2,456	2,683
Interest expense	(66)	(57)
Operating segments \| Corporate Activities
Disclosure of operating segments [line items]
Revenue	459	188
Interest expense	(349)	(323)
Common equity \| Common shares
Disclosure of operating segments [line items]
Equity	30,868	25,647
Common equity \| Common shares \| Asset management
Disclosure of operating segments [line items]
Equity	4,927	328
Common equity \| Common shares \| Real Estate
Disclosure of operating segments [line items]
Equity	18,781	17,423
Common equity \| Common shares \| Renewable Power
Disclosure of operating segments [line items]
Equity	5,320	5,302
Common equity \| Common shares \| Infrastructure
Disclosure of operating segments [line items]
Equity	2,792	2,887
Common equity \| Common shares \| Private Equity
Disclosure of operating segments [line items]
Equity	4,086	4,279
Common equity \| Common shares \| Residential Development
Disclosure of operating segments [line items]
Equity	2,859	2,606
Common equity \| Common shares \| Corporate Activities
Disclosure of operating segments [line items]
Equity	$ (7,897)	$ (7,178)

SEGMENTED INFORMATION - Reconci

SEGMENTED INFORMATION - Reconciliation of FFO to Equity Accounted Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of operating segments [abstract]
Consolidated equity accounted income	$ 2,498	$ 1,088
Non-FFO items from equity accounted investments	(143)	(1,284)
FFO from equity accounted investments	$ 2,641	$ 2,372

SEGMENTED INFORMATION - Schedul

SEGMENTED INFORMATION - Schedule of components of income tax expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of operating segments [abstract]
Current income tax expense	$ (970)	$ (861)
Deferred income tax recovery	475	1,109
Income tax (expense) recovery	$ (495)	$ 248

SEGMENTED INFORMATION - Recon_2

SEGMENTED INFORMATION - Reconciliation of FFO to Net Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of operating segments [abstract]
Net income	$ 5,354	$ 7,488
Realized disposition gains in fair value changes or equity	621	1,445
Non-controlling interests in FFO	7,161	6,015
Financial statement components not included in FFO
Equity Accounted Fair Value Changes And Other Non Funds From Operations	143	1,284
Fair value changes	831	(1,794)
Depreciation and amortization	4,876	3,102
Deferred income taxes	(475)	(1,109)
Total FFO	$ 4,189	$ 4,401

SEGMENTED INFORMATION - Revenue

SEGMENTED INFORMATION - Revenue Allocation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of geographical areas [line items]
Revenue	$ 67,826	$ 56,771
United States
Disclosure of geographical areas [line items]
Revenue	16,584	9,756
Canada
Disclosure of geographical areas [line items]
Revenue	6,202	6,422
United Kingdom
Disclosure of geographical areas [line items]
Revenue	21,847	23,684
Other Europe
Disclosure of geographical areas [line items]
Revenue	6,285	3,275
Australia
Disclosure of geographical areas [line items]
Revenue	5,522	4,968
Brazil
Disclosure of geographical areas [line items]
Revenue	4,099	4,048
Other Asia
Disclosure of geographical areas [line items]
Revenue	2,402	1,643
Colombia
Disclosure of geographical areas [line items]
Revenue	2,095	1,594
Other
Disclosure of geographical areas [line items]
Revenue	$ 2,790	$ 1,381

SEGMENTED INFORMATION - Asset A

SEGMENTED INFORMATION - Asset Allocation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of products and services [line items]
Revenue	$ 67,826	$ 56,771
Assets	323,969	256,281
United States
Disclosure of products and services [line items]
Revenue	16,584	9,756
Assets	149,687	128,808
Canada
Disclosure of products and services [line items]
Revenue	6,202	6,422
Assets	35,840	27,850
United Kingdom
Disclosure of products and services [line items]
Revenue	21,847	23,684
Assets	30,184	23,093
Brazil
Disclosure of products and services [line items]
Revenue	4,099	4,048
Assets	24,354	22,539
Other Europe
Disclosure of products and services [line items]
Revenue	6,285	3,275
Assets	19,404	13,250
Australia
Disclosure of products and services [line items]
Revenue	5,522	4,968
Assets	22,971	13,309
Other Asia
Disclosure of products and services [line items]
Revenue	2,402	1,643
Assets	17,468	10,479
Colombia
Disclosure of products and services [line items]
Revenue	2,095	1,594
Assets	10,819	9,862
Other
Disclosure of products and services [line items]
Revenue	2,790	1,381
Assets	$ 13,242	$ 7,091

SUBSIDIARIES - Schedule Of Non-

SUBSIDIARIES - Schedule Of Non-Controlling Interests In Subsidiaries With Significant Non-Controlling Interests (Details)	Dec. 31, 2019	Dec. 31, 2018
Brookfield Property Partners L.P. (“BPY”)
Disclosure of subsidiaries [line items]
Ownership Interest Held by Non-Controlling Interest	44.80%	46.20%
Brookfield Renewable Partners L.P. (“BEP”)
Disclosure of subsidiaries [line items]
Ownership Interest Held by Non-Controlling Interest	39.50%	39.50%
Brookfield Infrastructure Partners L.P. (“BIP”)
Disclosure of subsidiaries [line items]
Ownership Interest Held by Non-Controlling Interest	70.40%	70.50%
Brookfield Business Partners L.P. (“BBU”)
Disclosure of subsidiaries [line items]
Ownership Interest Held by Non-Controlling Interest	37.30%	32.00%

SUBSIDIARIES - Schedule of Comp

SUBSIDIARIES - Schedule of Composition Of Accumulated Non-Controlling Interest (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of subsidiaries [line items]
Equity	$ 116,846	$ 97,150
Non-controlling interests
Disclosure of subsidiaries [line items]
Equity	81,833	67,335
Non-controlling interests \| BPY
Disclosure of subsidiaries [line items]
Equity	29,165	31,580
Non-controlling interests \| BEP
Disclosure of subsidiaries [line items]
Equity	13,321	12,457
Non-controlling interests \| BIP
Disclosure of subsidiaries [line items]
Equity	20,036	12,752
Non-controlling interests \| BBU
Disclosure of subsidiaries [line items]
Equity	8,664	4,477
Non-controlling interests \| Individually immaterial subsidiaries with non-controlling interests
Disclosure of subsidiaries [line items]
Equity	$ 10,647	$ 6,069

SUBSIDIARIES - Schedule Of Summ

SUBSIDIARIES - Schedule Of Summarized Financial Information Before Intra-Group Eliminations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of subsidiaries [line items]
Non-controlling interests	$ (116,846)	$ (97,150)
Revenue	67,826	56,771
Net income (loss) attributable to:
Non-controlling interests	2,547	3,904
Shareholders	2,807	3,584
Net income	5,354	7,488
Other comprehensive income (loss) attributable to:
Non-controlling interests	2,188	1,755
Shareholders	524	406
Other comprehensive income	2,712	2,161
BPY
Disclosure of subsidiaries [line items]
Current assets	3,289	7,114
Non-current assets	108,354	115,406
Current liabilities	(12,466)	(10,306)
Non-current liabilities	(54,242)	(65,474)
Revenue	8,203	7,239
Net income (loss) attributable to:
Non-controlling interests	2,091	2,356
Shareholders	1,066	1,298
Net income	3,157	3,654
Other comprehensive income (loss) attributable to:
Non-controlling interests	234	(122)
Shareholders	89	(294)
Other comprehensive income	323	(416)
BEP
Disclosure of subsidiaries [line items]
Current assets	1,474	1,961
Non-current assets	34,217	32,142
Current liabilities	(1,678)	(1,689)
Non-current liabilities	(15,882)	(15,208)
Revenue	2,980	2,982
Net income (loss) attributable to:
Non-controlling interests	348	401
Shareholders	(75)	2
Net income	273	403
Other comprehensive income (loss) attributable to:
Non-controlling interests	1,179	2,292
Shareholders	546	972
Other comprehensive income	1,725	3,264
BIP
Disclosure of subsidiaries [line items]
Current assets	5,841	2,276
Non-current assets	50,467	34,304
Current liabilities	(5,439)	(2,417)
Non-current liabilities	(28,692)	(19,495)
Revenue	6,597	4,652
Net income (loss) attributable to:
Non-controlling interests	636	724
Shareholders	14	82
Net income	650	806
Other comprehensive income (loss) attributable to:
Non-controlling interests	486	(859)
Shareholders	104	(86)
Other comprehensive income	590	(945)
BBU
Disclosure of subsidiaries [line items]
Current assets	12,795	9,781
Non-current assets	38,956	17,537
Current liabilities	(11,024)	(9,016)
Non-current liabilities	(29,674)	(11,808)
Revenue	43,032	37,168
Net income (loss) attributable to:
Non-controlling interests	353	1,106
Shareholders	81	97
Net income	434	1,203
Other comprehensive income (loss) attributable to:
Non-controlling interests	(159)	(292)
Shareholders	(39)	(96)
Other comprehensive income	(198)	(388)
Non-controlling interests
Disclosure of subsidiaries [line items]
Non-controlling interests	(81,833)	(67,335)
Non-controlling interests \| BPY
Disclosure of subsidiaries [line items]
Non-controlling interests	(29,165)	(31,580)
Non-controlling interests \| BEP
Disclosure of subsidiaries [line items]
Non-controlling interests	(13,321)	(12,457)
Non-controlling interests \| BIP
Disclosure of subsidiaries [line items]
Non-controlling interests	(20,036)	(12,752)
Non-controlling interests \| BBU
Disclosure of subsidiaries [line items]
Non-controlling interests	(8,664)	(4,477)
Equity attributable to Brookfield \| BPY
Disclosure of subsidiaries [line items]
Non-controlling interests	(15,770)	(15,160)
Equity attributable to Brookfield \| BEP
Disclosure of subsidiaries [line items]
Non-controlling interests	(4,810)	(4,749)
Equity attributable to Brookfield \| BIP
Disclosure of subsidiaries [line items]
Non-controlling interests	(2,141)	(1,916)
Equity attributable to Brookfield \| BBU
Disclosure of subsidiaries [line items]
Non-controlling interests	$ (2,389)	$ (2,017)

SUBSIDIARIES - Schedule Of Cash

SUBSIDIARIES - Schedule Of Cash Flow With Material Non-Controlling Interests (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from (used in):
Operating activities	$ 6,328	$ 5,159
Financing activities	28,746	18,136
Investing activities	(36,674)	(19,833)
BPY
Cash flows from (used in):
Operating activities	624	1,357
Financing activities	(892)	8,873
Investing activities	(1,611)	(8,406)
Distributions paid to non-controlling interests in common equity	576	427
BEP
Cash flows from (used in):
Operating activities	1,212	1,103
Financing activities	(1,010)	(1,080)
Investing activities	(251)	(624)
Distributions paid to non-controlling interests in common equity	254	244
BIP
Cash flows from (used in):
Operating activities	2,143	1,362
Financing activities	9,542	4,418
Investing activities	(11,372)	(5,564)
Distributions paid to non-controlling interests in common equity	628	558
BBU
Cash flows from (used in):
Operating activities	2,163	1,341
Financing activities	15,925	3,561
Investing activities	(17,939)	(3,999)
Distributions paid to non-controlling interests in common equity	$ 13	$ 11

ACQUISITIONS OF CONSOLIDATED _3

ACQUISITIONS OF CONSOLIDATED ENTITIES - Schedule of Balance Sheet Impact On Business Combinations (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about business combination [line items]
Equity accounted investments	$ 895
Investment properties	3,669
Less:
Goodwill	14,550	$ 8,815	$ 5,317
Private Equity
Less:
Goodwill	5,218	2,411
Infrastructure [Member]
Less:
Goodwill	6,553	3,859
Renewable Power
Less:
Goodwill	977	941
Real Estate
Less:
Goodwill	1,357	1,157
Total
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents	475	2,173
Accounts receivable and other	7,483	5,648
Inventory	2,363	864
Equity accounted investments		12,752
Investment properties		33,024
Property, plant and equipment	17,453	12,576
Intangible assets		6,590
Deferred income tax assets	409	840
Total assets	50,789	78,625
Less:
Accounts payable and other	(9,945)	(7,137)
Non-recourse borrowings	(3,920)	(25,393)
Deferred income tax liabilities	(2,426)	(1,264)
Non-controlling interests	(2,665)	(3,684)
Total liabilities	(18,956)	(37,478)
Net assets acquired	31,833	41,147
Consideration	31,829	39,596
Goodwill		4,158
Total \| Private Equity
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents	344	388
Accounts receivable and other	6,706	623
Inventory	2,230	5
Equity accounted investments	847	29
Investment properties	0	0
Property, plant and equipment	6,650	2,970
Intangible assets	7,057	386
Deferred income tax assets	363	582
Total assets	27,676	5,169
Less:
Accounts payable and other	(5,025)	(715)
Non-recourse borrowings	(1,084)	(2,023)
Deferred income tax liabilities	(1,142)	(210)
Non-controlling interests	(1,749)	(22)
Total liabilities	(9,000)	(2,970)
Net assets acquired	18,676	2,199
Consideration	18,672	1,807
Goodwill	3,479	186
Total \| Infrastructure [Member]
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents	94	658
Accounts receivable and other	553	2,267
Inventory	74	686
Equity accounted investments	48	329
Investment properties	211	0
Property, plant and equipment	8,710	4,913
Intangible assets	3,248	2,942
Deferred income tax assets	46	38
Total assets	17,212	12,804
Less:
Accounts payable and other	(2,425)	(3,654)
Non-recourse borrowings	(1,980)	(3,668)
Deferred income tax liabilities	(1,248)	(157)
Non-controlling interests	(828)	(515)
Total liabilities	(6,481)	(7,994)
Net assets acquired	10,731	4,810
Consideration	10,731	4,810
Goodwill	2,644	971
Total \| Real Estate
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents	31	1,056
Accounts receivable and other	114	2,247
Inventory	46	150
Equity accounted investments	0	12,379
Investment properties	3,458	33,024
Property, plant and equipment	785	1,748
Intangible assets	28	54
Deferred income tax assets	0	220
Total assets	4,464	50,974
Less:
Accounts payable and other	(2,394)	(2,177)
Non-recourse borrowings	(537)	(18,218)
Deferred income tax liabilities	0	(58)
Non-controlling interests	(88)	(2,603)
Total liabilities	(3,019)	(23,056)
Net assets acquired	1,445	27,918
Consideration	1,445	26,759
Goodwill	2	96
Total \| Renewable Power and Other
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents	6	71
Accounts receivable and other	110	511
Inventory	13	23
Equity accounted investments	0	15
Investment properties	0	0
Property, plant and equipment	1,308	2,945
Intangible assets	0	3,208
Deferred income tax assets	0	0
Total assets	1,437	9,678
Less:
Accounts payable and other	(101)	(591)
Non-recourse borrowings	(319)	(1,484)
Deferred income tax liabilities	(36)	(839)
Non-controlling interests	0	(544)
Total liabilities	(456)	(3,458)
Net assets acquired	981	6,220
Consideration	981	6,220
Goodwill	0	2,905
Costs
Disclosure of detailed information about business combination [line items]
Intangible assets	10,333
Less:
Goodwill	15,412	$ 9,198	$ 5,707
Costs \| Total
Less:
Goodwill	$ 6,125

ACQUISITIONS OF CONSOLIDATED _4

ACQUISITIONS OF CONSOLIDATED ENTITIES - Narrative (Details) - USD ($) $ in Millions	Dec. 30, 2019	Dec. 12, 2019	Nov. 29, 2019	Sep. 26, 2019	Jun. 06, 2019	Apr. 30, 2019	Mar. 22, 2019	Dec. 07, 2018	Oct. 16, 2018	Oct. 01, 2018	Aug. 28, 2018	Aug. 03, 2018	Aug. 01, 2018	Jun. 12, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about business combination [line items]
Revenue of acquired entities since acquisition date															$ 7,600	$ 5,100
Profit (loss) of acquired entities since acquisition date															635	711
Goodwill															14,550	8,815	$ 5,317
Revenue of combined entity as if combination occurred at beginning of period															14,700	12,600
Net income (loss) of combined entity as if combination occurred at beginning of period															(189)	(1,800)
Real Estate
Disclosure of detailed information about business combination [line items]
Goodwill															1,357	1,157
Real Estate \| 666 Fifth Avenue [Member]
Disclosure of detailed information about business combination [line items]
Total consideration												$ 1,299
Goodwill												0
Revenue of combined entity as if combination occurred at beginning of period												84
Net income (loss) of combined entity as if combination occurred at beginning of period												(85)
Identifiable Assets Acquired Recognised As Of Acquisition Date												1,303
Property, plant and equipment												$ 0
Percentage of interests acquired												100.00%
Deferred tax liabilities recognised as of acquisition date												$ 0
Liabilities Recognized as of Acquisition Date												4
Borrowings recognised as of acquisition date												$ 0
Real Estate \| GGP Inc. (“GGP”)
Disclosure of detailed information about business combination [line items]
Total consideration											$ 13,240
Goodwill											0
Revenue of combined entity as if combination occurred at beginning of period											1,800
Net income (loss) of combined entity as if combination occurred at beginning of period											(1,100)
Identifiable Assets Acquired Recognised As Of Acquisition Date											29,892
Property, plant and equipment											56
Cash consideration											200
Gain recognised in bargain purchase transaction											921
Deferred tax liabilities recognised as of acquisition date											11
Acquisition-date fair value of equity interest in acquiree held by acquirer immediately before acquisition date											7,800
Loss on revaluation of equity interest in acquiree held by acquirer immediately before acquisition date											502
Liabilities Recognized as of Acquisition Date											15,731
Borrowings recognised as of acquisition date											13,147
Real Estate \| Forest City [Member]
Disclosure of detailed information about business combination [line items]
Total consideration								$ 6,948
Goodwill								0
Revenue of combined entity as if combination occurred at beginning of period								1,100
Net income (loss) of combined entity as if combination occurred at beginning of period								(381)
Identifiable Assets Acquired Recognised As Of Acquisition Date								12,364
Property, plant and equipment								$ 0
Percentage of interests acquired								100.00%
Deferred tax liabilities recognised as of acquisition date								$ 0
Liabilities Recognized as of Acquisition Date								5,416
Borrowings recognised as of acquisition date								$ 3,664
Real Estate \| GGP Inc. (“GGP”)
Disclosure of detailed information about business combination [line items]
Total consideration			$ 724												724
Goodwill															0
Revenue of combined entity as if combination occurred at beginning of period			174
Net income (loss) of combined entity as if combination occurred at beginning of period			(4)
Identifiable Assets Acquired Recognised As Of Acquisition Date															3,717
Property, plant and equipment															95
Cash consideration			$ 658
Percentage of interests acquired			84.00%
Deferred tax liabilities recognised as of acquisition date															0
Liabilities Recognized as of Acquisition Date															2,993
Borrowings recognised as of acquisition date															537
Infrastructure
Disclosure of detailed information about business combination [line items]
Goodwill															6,553	3,859
Infrastructure \| East-West Pipeline Limited (EWPL)
Disclosure of detailed information about business combination [line items]
Total consideration							$ 1,900								1,879
Goodwill															0
Revenue of combined entity as if combination occurred at beginning of period							359
Net income (loss) of combined entity as if combination occurred at beginning of period							(65)
Identifiable Assets Acquired Recognised As Of Acquisition Date															2,523
Property, plant and equipment															2,134
Cash consideration	$ 5,400						$ 959
Percentage of interests acquired							100.00%
Deferred tax liabilities recognised as of acquisition date															0
Liabilities Recognized as of Acquisition Date															644
Borrowings recognised as of acquisition date															0
Infrastructure \| Genesee and Wyoming [Member]
Disclosure of detailed information about business combination [line items]
Total consideration	6,500														6,526
Goodwill	2,000
Revenue of combined entity as if combination occurred at beginning of period	2,300
Net income (loss) of combined entity as if combination occurred at beginning of period	$ (235)
Identifiable Assets Acquired Recognised As Of Acquisition Date															11,525
Property, plant and equipment															5,283
Percentage of interests acquired	100.00%
Deferred tax liabilities recognised as of acquisition date															1,111
Liabilities Recognized as of Acquisition Date															4,999
Borrowings recognised as of acquisition date															1,567
Infrastructure \| North River [Member]
Disclosure of detailed information about business combination [line items]
Total consideration										$ 1,956					1,318
Goodwill										524					218
Revenue of combined entity as if combination occurred at beginning of period										246					271
Net income (loss) of combined entity as if combination occurred at beginning of period										(16)					(121)
Identifiable Assets Acquired Recognised As Of Acquisition Date										2,188					1,536
Property, plant and equipment										$ 1,442					1,198
Cash consideration															$ 861
Percentage of interests acquired										100.00%					100.00%
Deferred tax liabilities recognised as of acquisition date										$ 186					$ 0
Liabilities Recognized as of Acquisition Date										232					218
Borrowings recognised as of acquisition date										$ 0					0
Infrastructure \| Enercare [Member]
Disclosure of detailed information about business combination [line items]
Total consideration									$ 2,442
Goodwill									1,260						1,300
Revenue of combined entity as if combination occurred at beginning of period									949
Net income (loss) of combined entity as if combination occurred at beginning of period									(5)
Identifiable Assets Acquired Recognised As Of Acquisition Date									4,026
Property, plant and equipment									669
Cash consideration									$ 2,200
Percentage of interests acquired									100.00%
Deferred tax liabilities recognised as of acquisition date									$ 472
Liabilities Recognized as of Acquisition Date									1,584
Borrowings recognised as of acquisition date									$ 877
Infrastructure \| Evoque [Member]
Disclosure of detailed information about business combination [line items]
Total consideration																1,103
Goodwill																463
Revenue of combined entity as if combination occurred at beginning of period																321
Net income (loss) of combined entity as if combination occurred at beginning of period																(6)
Identifiable Assets Acquired Recognised As Of Acquisition Date																1,127
Property, plant and equipment																$ 440
Percentage of interests acquired																100.00%
Deferred tax liabilities recognised as of acquisition date																$ 0
Liabilities Recognized as of Acquisition Date																24
Borrowings recognised as of acquisition date																0
Renewable Power
Disclosure of detailed information about business combination [line items]
Goodwill															977	941
Renewable Power \| Saeta Yield [Member]
Disclosure of detailed information about business combination [line items]
Total consideration														$ 1,114
Goodwill														115
Revenue of combined entity as if combination occurred at beginning of period														407
Net income (loss) of combined entity as if combination occurred at beginning of period														(63)
Identifiable Assets Acquired Recognised As Of Acquisition Date														3,514
Property, plant and equipment														$ 2,724
Percentage of interests acquired														95.00%
Deferred tax liabilities recognised as of acquisition date														$ 174
Liabilities Recognized as of Acquisition Date														2,400
Borrowings recognised as of acquisition date														$ 1,906
Renewable Power \| Arcadia [Member]
Disclosure of detailed information about business combination [line items]
Total consideration				$ 735											735
Goodwill															0
Revenue of combined entity as if combination occurred at beginning of period				67
Net income (loss) of combined entity as if combination occurred at beginning of period				$ (22)
Identifiable Assets Acquired Recognised As Of Acquisition Date															800
Property, plant and equipment															759
Percentage of interests acquired				100.00%
Deferred tax liabilities recognised as of acquisition date															0
Liabilities Recognized as of Acquisition Date															65
Borrowings recognised as of acquisition date															0
Private Equity
Disclosure of detailed information about business combination [line items]
Goodwill															5,218	$ 2,411
Private Equity \| Healthscope
Disclosure of detailed information about business combination [line items]
Total consideration					$ 4,100										4,055
Goodwill															1,548
Goodwill recognised as of acquisition date					1,500
Revenue of combined entity as if combination occurred at beginning of period					1,600
Net income (loss) of combined entity as if combination occurred at beginning of period					(81)
Identifiable Assets Acquired Recognised As Of Acquisition Date															4,825
Property, plant and equipment															2,590
Cash consideration					1,200
Consideration transferred, acquisition-date asset level debt					$ 2,900
Percentage of interests acquired					100.00%
Deferred tax liabilities recognised as of acquisition date															79
Liabilities Recognized as of Acquisition Date															770
Borrowings recognised as of acquisition date															0
Private Equity \| Genworth [Member]
Disclosure of detailed information about business combination [line items]
Total consideration		$ 1,700													1,674
Goodwill															0
Revenue of combined entity as if combination occurred at beginning of period		677
Net income (loss) of combined entity as if combination occurred at beginning of period		(321)
Identifiable Assets Acquired Recognised As Of Acquisition Date															5,302
Property, plant and equipment															10
Gain recognised in bargain purchase transaction		$ 0
Percentage of interests acquired		57.00%
Deferred tax liabilities recognised as of acquisition date															49
Liabilities Recognized as of Acquisition Date															3,624
Borrowings recognised as of acquisition date															342
Private Equity \| Clarios
Disclosure of detailed information about business combination [line items]
Total consideration						$ 12,800									12,770
Goodwill															1,894
Goodwill recognised as of acquisition date						1,900
Goodwill expected to be deductible for tax purposes						20
Revenue of combined entity as if combination occurred at beginning of period						8,300
Net income (loss) of combined entity as if combination occurred at beginning of period						(74)
Identifiable Assets Acquired Recognised As Of Acquisition Date															16,204
Property, plant and equipment															3,582
Cash consideration						2,900
Consideration transferred, acquisition-date asset level debt						$ 9,900
Percentage of interests acquired						100.00%
Deferred tax liabilities recognised as of acquisition date															967
Liabilities Recognized as of Acquisition Date															3,434
Borrowings recognised as of acquisition date															$ 0
Private Equity \| Westinghouse [Member]
Disclosure of detailed information about business combination [line items]
Total consideration													$ 3,835
Goodwill													213
Revenue of combined entity as if combination occurred at beginning of period													3,900
Net income (loss) of combined entity as if combination occurred at beginning of period													(200)
Identifiable Assets Acquired Recognised As Of Acquisition Date													6,571
Property, plant and equipment													$ 931
Percentage of interests acquired													100.00%
Deferred tax liabilities recognised as of acquisition date													$ 81
Liabilities Recognized as of Acquisition Date													2,736
Borrowings recognised as of acquisition date													3
Asset level debt [Member] \| Private Equity \| Westinghouse [Member]
Disclosure of detailed information about business combination [line items]
Total consideration													$ 886
Pre-closing dividend [Member] \| Real Estate \| GGP Inc. (“GGP”)
Disclosure of detailed information about business combination [line items]
Total consideration											9,050
BPR Shares [Member] \| Real Estate \| GGP Inc. (“GGP”)
Disclosure of detailed information about business combination [line items]
Total consideration											161
Existing equity investment [Member] \| Real Estate \| GGP Inc. (“GGP”)
Disclosure of detailed information about business combination [line items]
Total consideration											7,800
BPY Shares [Member] \| Real Estate \| GGP Inc. (“GGP”)
Disclosure of detailed information about business combination [line items]
Total consideration											88
New equity [Member] \| Real Estate \| GGP Inc. (“GGP”)
Disclosure of detailed information about business combination [line items]
Total consideration											5,200
Share-based payment arrangements [member] \| Real Estate \| GGP Inc. (“GGP”)
Disclosure of detailed information about business combination [line items]
Total consideration											$ 28

ACQUISITIONS OF CONSOLIDATED _5

ACQUISITIONS OF CONSOLIDATED ENTITIES - Schedule of Balance Sheet Impact on Significant Business Combinations (Details) - USD ($) $ in Millions	Dec. 30, 2019	Dec. 12, 2019	Nov. 29, 2019	Sep. 26, 2019	Jun. 06, 2019	Apr. 30, 2019	Mar. 22, 2019	Dec. 07, 2018	Oct. 16, 2018	Oct. 01, 2018	Aug. 28, 2018	Aug. 03, 2018	Aug. 01, 2018	Jun. 12, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about business combination [line items]
Equity accounted investments															$ 895
Investment properties															3,669
Goodwill															14,550	$ 8,815	$ 5,317
Less:
Revenue of combined entity as if combination occurred at beginning of period															14,700	12,600
Profit (loss) of combined entity as if combination occurred at beginning of period															189	1,800
Forest City [Member]
Disclosure of detailed information about business combination [line items]
Investment properties								$ 9,397
Renewable Power
Disclosure of detailed information about business combination [line items]
Goodwill															977	941
Renewable Power \| Saeta Yield [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired				100.00%
Cash and cash equivalents															3
Accounts receivable and other															31
Inventory															7
Equity accounted investments															0
Investment properties															0
Property, plant and equipment															759
Intangible assets															0
Goodwill															0
Deferred income tax assets															0
Total assets															800
Less:
Accounts payable and other															(65)
Non-recourse borrowings															0
Deferred income tax liabilities															0
Non-controlling interests															0
Total liabilities															(65)
Net assets acquired															735
Consideration				$ 735											735
Revenue of combined entity as if combination occurred at beginning of period				67
Profit (loss) of combined entity as if combination occurred at beginning of period				$ 22
Renewable Power \| Saeta Yield [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired														95.00%
Cash and cash equivalents														$ 187
Accounts receivable and other														216
Inventory														0
Equity accounted investments														14
Investment properties														0
Property, plant and equipment														2,724
Intangible assets														258
Goodwill														115
Deferred income tax assets														0
Total assets														3,514
Less:
Accounts payable and other														(320)
Non-recourse borrowings														(1,906)
Deferred income tax liabilities														(174)
Non-controlling interests														0
Total liabilities														(2,400)
Net assets acquired														1,114
Consideration														1,114
Revenue of combined entity as if combination occurred at beginning of period														407
Profit (loss) of combined entity as if combination occurred at beginning of period														$ 63
Private Equity
Disclosure of detailed information about business combination [line items]
Goodwill															5,218	2,411
Private Equity \| Westinghouse [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired						100.00%
Cash and cash equivalents															11
Accounts receivable and other															1,503
Inventory															1,775
Equity accounted investments															838
Investment properties															0
Property, plant and equipment															3,582
Intangible assets															6,420
Goodwill															1,894
Deferred income tax assets															181
Total assets															16,204
Less:
Accounts payable and other															(1,998)
Non-recourse borrowings															0
Deferred income tax liabilities															(967)
Non-controlling interests															(469)
Total liabilities															(3,434)
Net assets acquired															12,770
Consideration						$ 12,800									12,770
Revenue of combined entity as if combination occurred at beginning of period						8,300
Profit (loss) of combined entity as if combination occurred at beginning of period						74
Consideration transferred, acquisition-date asset level debt						$ 9,900
Private Equity \| Healthscope [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired					100.00%
Cash and cash equivalents															25
Accounts receivable and other															196
Inventory															41
Equity accounted investments															9
Investment properties															0
Property, plant and equipment															2,590
Intangible assets															280
Goodwill															1,548
Deferred income tax assets															136
Total assets															4,825
Less:
Accounts payable and other															(691)
Non-recourse borrowings															0
Deferred income tax liabilities															(79)
Non-controlling interests															0
Total liabilities															(770)
Net assets acquired															4,055
Consideration					$ 4,100										4,055
Revenue of combined entity as if combination occurred at beginning of period					1,600
Profit (loss) of combined entity as if combination occurred at beginning of period					81
Consideration transferred, acquisition-date asset level debt					$ 2,900
Private Equity \| Genworth [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired		57.00%
Cash and cash equivalents															253
Accounts receivable and other															4,796
Inventory															0
Equity accounted investments															0
Investment properties															0
Property, plant and equipment															10
Intangible assets															243
Goodwill															0
Deferred income tax assets															0
Total assets															5,302
Less:
Accounts payable and other															(1,954)
Non-recourse borrowings															(342)
Deferred income tax liabilities															(49)
Non-controlling interests															(1,279)
Total liabilities															(3,624)
Net assets acquired															1,678
Consideration		$ 1,700													1,674
Revenue of combined entity as if combination occurred at beginning of period		677
Profit (loss) of combined entity as if combination occurred at beginning of period		$ 321
Private Equity \| Westinghouse [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired													100.00%
Cash and cash equivalents													$ 250
Accounts receivable and other													1,854
Inventory													626
Equity accounted investments													7
Investment properties													0
Property, plant and equipment													931
Intangible assets													2,683
Goodwill													213
Deferred income tax assets													7
Total assets													6,571
Less:
Accounts payable and other													(2,645)
Non-recourse borrowings													(3)
Deferred income tax liabilities													(81)
Non-controlling interests													(7)
Total liabilities													(2,736)
Net assets acquired													3,835
Consideration													3,835
Revenue of combined entity as if combination occurred at beginning of period													3,900
Profit (loss) of combined entity as if combination occurred at beginning of period													$ 200
Infrastructure
Disclosure of detailed information about business combination [line items]
Goodwill															6,553	$ 3,859
Infrastructure \| East-West Pipeline Limited (EWPL) [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired							100.00%
Cash and cash equivalents															0
Accounts receivable and other															66
Inventory															28
Equity accounted investments															0
Investment properties															0
Property, plant and equipment															2,134
Intangible assets															295
Goodwill															0
Deferred income tax assets															0
Total assets															2,523
Less:
Accounts payable and other															(66)
Non-recourse borrowings															0
Deferred income tax liabilities															0
Non-controlling interests															(578)
Total liabilities															(644)
Net assets acquired															1,879
Consideration							$ 1,900								1,879
Revenue of combined entity as if combination occurred at beginning of period							359
Profit (loss) of combined entity as if combination occurred at beginning of period							$ 65
Infrastructure \| Genesee and Wyoming [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired	100.00%
Cash and cash equivalents															67
Accounts receivable and other															461
Inventory															43
Equity accounted investments															48
Investment properties															0
Property, plant and equipment															5,283
Intangible assets															1,992
Goodwill	$ 2,000
Deferred income tax assets															5
Total assets															11,525
Less:
Accounts payable and other															(2,071)
Non-recourse borrowings															(1,567)
Deferred income tax liabilities															(1,111)
Non-controlling interests															(250)
Total liabilities															(4,999)
Net assets acquired															6,526
Consideration	6,500														6,526
Revenue of combined entity as if combination occurred at beginning of period	2,300
Profit (loss) of combined entity as if combination occurred at beginning of period	$ 235
Infrastructure \| Enercare [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired									100.00%
Cash and cash equivalents									$ 24
Accounts receivable and other									187
Inventory									0
Equity accounted investments									0
Investment properties									0
Property, plant and equipment									669
Intangible assets									1,863
Goodwill									1,260						$ 1,300
Deferred income tax assets									23
Total assets									4,026
Less:
Accounts payable and other									(235)
Non-recourse borrowings									(877)
Deferred income tax liabilities									(472)
Non-controlling interests									0
Total liabilities									(1,584)
Net assets acquired									2,442
Consideration									2,442
Revenue of combined entity as if combination occurred at beginning of period									949
Profit (loss) of combined entity as if combination occurred at beginning of period									$ 5
Infrastructure \| North River [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired										100.00%					100.00%
Cash and cash equivalents										$ 10					$ 2
Accounts receivable and other										55					0
Inventory										0					3
Equity accounted investments										0					0
Investment properties										0					0
Property, plant and equipment										1,442					1,198
Intangible assets										157					74
Goodwill										524					218
Deferred income tax assets										0					41
Total assets										2,188					1,536
Less:
Accounts payable and other										(46)					(218)
Non-recourse borrowings										0					0
Deferred income tax liabilities										(186)					0
Non-controlling interests										0					0
Total liabilities										(232)					(218)
Net assets acquired										1,956					1,318
Consideration										1,956					1,318
Revenue of combined entity as if combination occurred at beginning of period										246					271
Profit (loss) of combined entity as if combination occurred at beginning of period										$ 16					121
Infrastructure \| Evoque [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired																100.00%
Cash and cash equivalents																$ 0
Accounts receivable and other																3
Inventory																0
Equity accounted investments																0
Investment properties																0
Property, plant and equipment																440
Intangible assets																221
Goodwill																463
Deferred income tax assets																0
Total assets																1,127
Less:
Accounts payable and other																(24)
Non-recourse borrowings																0
Deferred income tax liabilities																0
Non-controlling interests																0
Total liabilities																(24)
Net assets acquired																1,103
Consideration																1,103
Revenue of combined entity as if combination occurred at beginning of period																321
Profit (loss) of combined entity as if combination occurred at beginning of period																6
Real Estate
Disclosure of detailed information about business combination [line items]
Goodwill															1,357	$ 1,157
Real Estate \| GGP Inc. (“GGP”)
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired			84.00%
Cash and cash equivalents															27
Accounts receivable and other															92
Inventory															43
Equity accounted investments															0
Investment properties															3,458
Property, plant and equipment															95
Intangible assets															2
Goodwill															0
Deferred income tax assets															0
Total assets															3,717
Less:
Accounts payable and other															(2,368)
Non-recourse borrowings															(537)
Deferred income tax liabilities															0
Non-controlling interests															(88)
Total liabilities															(2,993)
Net assets acquired															724
Consideration			$ 724												$ 724
Revenue of combined entity as if combination occurred at beginning of period			174
Profit (loss) of combined entity as if combination occurred at beginning of period			$ 4
Real Estate \| 666 Fifth Avenue [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired												100.00%
Cash and cash equivalents												$ 0
Accounts receivable and other												11
Inventory												0
Equity accounted investments												0
Investment properties												1,292
Property, plant and equipment												0
Intangible assets												0
Goodwill												0
Deferred income tax assets												0
Total assets												1,303
Less:
Accounts payable and other												(4)
Non-recourse borrowings												0
Deferred income tax liabilities												0
Non-controlling interests												0
Total liabilities												(4)
Net assets acquired												1,299
Consideration												1,299
Revenue of combined entity as if combination occurred at beginning of period												84
Profit (loss) of combined entity as if combination occurred at beginning of period												$ 85
Real Estate \| GGP Inc. (“GGP”)
Disclosure of detailed information about business combination [line items]
Cash and cash equivalents											$ 424
Accounts receivable and other											592
Inventory											0
Equity accounted investments											10,829
Investment properties											17,991
Property, plant and equipment											56
Intangible assets											0
Goodwill											0
Deferred income tax assets											0
Total assets											29,892
Less:
Accounts payable and other											(691)
Non-recourse borrowings											(13,147)
Deferred income tax liabilities											(11)
Non-controlling interests											(1,882)
Total liabilities											(15,731)
Net assets acquired											14,161
Consideration											13,240
Revenue of combined entity as if combination occurred at beginning of period											1,800
Profit (loss) of combined entity as if combination occurred at beginning of period											$ 1,100
Real Estate \| Forest City [Member]
Disclosure of detailed information about business combination [line items]
Percentage of interests acquired								100.00%
Cash and cash equivalents								$ 451
Accounts receivable and other								960
Inventory								89
Equity accounted investments								1,467
Property, plant and equipment								0
Intangible assets								0
Goodwill								0
Deferred income tax assets								0
Total assets								12,364
Less:
Accounts payable and other								(1,119)
Non-recourse borrowings								(3,664)
Deferred income tax liabilities								0
Non-controlling interests								(633)
Total liabilities								(5,416)
Net assets acquired								6,948
Consideration								6,948
Revenue of combined entity as if combination occurred at beginning of period								1,100
Profit (loss) of combined entity as if combination occurred at beginning of period								$ 381

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS - Financial Instrument Classification (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of financial assets [line items]
Financial assets	$ 33,281	$ 27,179
Financial assets pledged as collateral for liabilities or contingent liabilities	7,000	7,200
Disclosure of financial liabilities [line items]
Financial liabilities	184,231	146,083
Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	6,424	5,087
Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	177,807	140,996
Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	6,208	4,026
Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	6,103	2,117
Amortized Cost
Disclosure of financial assets [line items]
Financial assets	20,970
Corporate borrowings
Disclosure of financial liabilities [line items]
Financial liabilities	7,083	6,409
Corporate borrowings \| Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Corporate borrowings \| Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Corporate borrowings \| Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	7,083	6,409
Property-specific borrowings and subsidiary borrowings [Member]
Disclosure of financial liabilities [line items]
Financial liabilities	136,292	111,809
Property-specific borrowings and subsidiary borrowings [Member] \| Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Property-specific borrowings and subsidiary borrowings [Member] \| Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Property-specific borrowings and subsidiary borrowings [Member] \| Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	136,292	111,809
Property-specific borrowings
Disclosure of financial liabilities [line items]
Financial liabilities	127,869	103,209
Property-specific borrowings \| Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Property-specific borrowings \| Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Property-specific borrowings \| Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	127,869	103,209
Subsidiary borrowings
Disclosure of financial liabilities [line items]
Financial liabilities	8,423	8,600
Subsidiary borrowings \| Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Subsidiary borrowings \| Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Subsidiary borrowings \| Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	8,423	8,600
Accounts payable and other
Disclosure of financial assets [line items]
Financial instruments designated as hedging instruments, at fair value	1,300	465
Disclosure of financial liabilities [line items]
Financial liabilities	36,724	23,989
Accounts payable and other \| Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities		3,362
Accounts payable and other \| Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities		0
Accounts payable and other \| Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities		20,627
Accounts payable and other
Disclosure of financial liabilities [line items]
Financial liabilities	36,724
Accounts payable and other \| Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	4,528
Accounts payable and other \| Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0
Accounts payable and other \| Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	32,196
Subsidiary equity obligations
Disclosure of financial liabilities [line items]
Financial liabilities	4,132	3,876
Subsidiary equity obligations \| Fair Value Through Profit or Loss
Disclosure of financial liabilities [line items]
Financial liabilities	1,896	1,725
Subsidiary equity obligations \| Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities	0	0
Subsidiary equity obligations \| Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities	2,236	2,151
Cash and cash equivalents
Disclosure of financial assets [line items]
Financial assets	6,778	8,390
Cash and cash equivalents \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	0	0
Cash and cash equivalents \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	0	0
Cash and cash equivalents \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	6,778
Government bonds
Disclosure of financial assets [line items]
Financial assets	2,403	88
Government bonds \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	156	68
Government bonds \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	2,247	20
Government bonds \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	0
Corporate bonds
Disclosure of financial assets [line items]
Financial assets	3,267	905
Corporate bonds \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	1,118	536
Corporate bonds \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	1,839	96
Corporate bonds \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	310
Fixed income securities and other
Disclosure of financial assets [line items]
Financial assets	1,750	1,037
Fixed income securities and other \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	1,131	570
Fixed income securities and other \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	619	311
Fixed income securities and other \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	0
Common shares and warrants
Disclosure of financial assets [line items]
Financial assets	3,189	2,379
Common shares and warrants \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	1,791	689
Common shares and warrants \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	1,398	1,690
Common shares and warrants \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	0
Loans and notes receivables
Disclosure of financial assets [line items]
Financial assets	1,859	1,818
Loans and notes receivables \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	55	50
Loans and notes receivables \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	0	0
Loans and notes receivables \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	1,804
Other financial assets
Disclosure of financial assets [line items]
Financial assets	12,468	6,227
Other financial assets \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	4,251	1,913
Other financial assets \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	6,103	2,117
Other financial assets \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	2,114
Accounts receivable and other
Disclosure of financial assets [line items]
Financial assets	14,035	12,562
Financial instruments designated as hedging instruments, at fair value	950	1,500
Accounts receivable and other \| Fair Value Through Profit or Loss
Disclosure of financial assets [line items]
Financial assets	1,957	2,113
Accounts receivable and other \| Fair Value Through OCI
Disclosure of financial assets [line items]
Financial assets	0	$ 0
Accounts receivable and other \| Amortized Cost
Disclosure of financial assets [line items]
Financial assets	$ 12,078

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of carrying value and fair value of assets and liabilities
Financial assets transferred between Levels 1, 2, and 3		$ 0
Fair value gains (losses) on financial assets reclassified out of fair value through other comprehensive income recognized in fair value through profit and loss	$ (3,000,000)	0
Cash included in cash and cash equivalents	5,700,000,000	7,700,000,000
Short-term deposits, classified as cash equivalents	1,100,000,000	685,000,000
Cash flow hedges
Disclosure of carrying value and fair value of assets and liabilities
Gains (losses) on cash flow hedges, before tax	(89,000,000)	38,000,000
Net investment hedges
Disclosure of carrying value and fair value of assets and liabilities
Pre-tax net unrealized gains	(400,000,000)	999,000,000
Unrealized Available-for-Sale Gain
Disclosure of carrying value and fair value of assets and liabilities
Gains (losses) recognised in other comprehensive income, fair value measurement, assets	479,000,000	212,000,000
Unrealized Available-for-Sale Loss
Disclosure of carrying value and fair value of assets and liabilities
Gains (losses) recognised in other comprehensive income, fair value measurement, assets	(108,000,000)	(152,000,000)
Elected for hedge accounting \| Cash flow hedges
Disclosure of carrying value and fair value of assets and liabilities
Derivative financial assets held for hedging	210,000,000	468,000,000
Elected for hedge accounting \| Net investment hedges
Disclosure of carrying value and fair value of assets and liabilities
Derivative financial assets held for hedging	$ 551,000,000	$ 523,000,000

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying and Fair Values of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of financial assets [line items]
Financial assets, carrying value	$ 33,281	$ 27,179
Financial assets, at fair value	33,281	27,179
Disclosure of financial liabilities [line items]
Financial assets pledged as collateral for liabilities or contingent liabilities	7,000	7,200
Financial liabilities, carrying value	184,231	146,083
Financial liabilities, at fair value	187,156	147,180
Corporate borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	7,083	6,409
Financial liabilities, at fair value	7,933	6,467
Property-specific borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	127,869	103,209
Financial liabilities, at fair value	129,728	104,291
Subsidiary borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	8,423	8,600
Financial liabilities, at fair value	8,632	8,557
Property-specific borrowings and subsidiary borrowings [Member]
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	136,292	111,809
Financial liabilities, at fair value	138,360	112,848
Accounts payable and other
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	36,724	23,989
Financial liabilities, at fair value	36,724	23,989
Financial instruments designated as hedging instruments, at fair value	1,300	465
Subsidiary equity obligations
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	4,132	3,876
Financial liabilities, at fair value	4,139	3,876
Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	6,103	2,117
Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	6,208	4,026
Loans and notes receivables
Disclosure of financial assets [line items]
Financial assets, carrying value		21,036
Equity investments [member]
Disclosure of financial assets [line items]
Financial assets, carrying value	3,189	2,379
Financial assets, at fair value	3,189	2,379
Equity investments [member] \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	1,398	1,690
Equity investments [member] \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	1,791	689
Equity investments [member] \| Loans and notes receivables
Disclosure of financial assets [line items]
Financial assets, carrying value		0
Loans and notes receivables
Disclosure of financial assets [line items]
Financial assets, carrying value	1,859	1,818
Financial assets, at fair value	1,859	1,818
Loans and notes receivables \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	0	0
Loans and notes receivables \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	55	50
Loans and notes receivables \| Loans and notes receivables
Disclosure of financial assets [line items]
Financial assets, carrying value		1,768
Cash And Cash Equivalents1 [Member]
Disclosure of financial assets [line items]
Financial assets, carrying value	6,778	8,390
Financial assets, at fair value	6,778	8,390
Cash And Cash Equivalents1 [Member] \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	0	0
Cash And Cash Equivalents1 [Member] \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	0	0
Cash And Cash Equivalents1 [Member] \| Loans and notes receivables
Disclosure of financial assets [line items]
Financial assets, carrying value		8,390
Other financial assets
Disclosure of financial assets [line items]
Financial assets, carrying value	12,468	6,227
Financial assets, at fair value	12,468	6,227
Other financial assets \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	6,103	2,117
Other financial assets \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	4,251	1,913
Other financial assets \| Loans and notes receivables
Disclosure of financial assets [line items]
Financial assets, carrying value		2,197
Trade receivables and other [Member]
Disclosure of financial assets [line items]
Financial assets, carrying value	14,035	12,562
Financial assets, at fair value	14,035	12,562
Disclosure of financial liabilities [line items]
Financial instruments designated as hedging instruments, at fair value	950	1,500
Trade receivables and other [Member] \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	0	0
Trade receivables and other [Member] \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	1,957	2,113
Trade receivables and other [Member] \| Loans and notes receivables
Disclosure of financial assets [line items]
Financial assets, carrying value		10,449
Loans to government [member]
Disclosure of financial assets [line items]
Financial assets, carrying value	2,403	88
Financial assets, at fair value	2,403	88
Loans to government [member] \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	2,247	20
Loans to government [member] \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	156	68
Loans to government [member] \| Loans and notes receivables
Disclosure of financial assets [line items]
Financial assets, carrying value		0
Loans to corporate entities [member]
Disclosure of financial assets [line items]
Financial assets, carrying value	3,267	905
Financial assets, at fair value	3,267	905
Loans to corporate entities [member] \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	1,839	96
Loans to corporate entities [member] \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	1,118	536
Loans to corporate entities [member] \| Loans and notes receivables
Disclosure of financial assets [line items]
Financial assets, carrying value		273
Fixed income securities and other
Disclosure of financial assets [line items]
Financial assets, carrying value	1,750	1,037
Financial assets, at fair value	1,750	1,037
Fixed income securities and other \| Elected for hedge accounting
Disclosure of financial assets [line items]
Financial assets, carrying value	619	311
Fixed income securities and other \| Fair value through profit or loss
Disclosure of financial assets [line items]
Financial assets, carrying value	1,131	570
Fixed income securities and other \| Loans and notes receivables
Disclosure of financial assets [line items]
Financial assets, carrying value		156
Amortized Cost
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	177,807	140,996
Amortized Cost \| Corporate borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	7,083	6,409
Amortized Cost \| Property-specific borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	127,869	103,209
Amortized Cost \| Subsidiary borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	8,423	8,600
Amortized Cost \| Property-specific borrowings and subsidiary borrowings [Member]
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	136,292	111,809
Amortized Cost \| Accounts payable and other
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value		20,627
Amortized Cost \| Subsidiary equity obligations
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	2,236	2,151
Financial liabilities at fair value through profit or loss, category [member]
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	6,424	5,087
Financial liabilities at fair value through profit or loss, category [member] \| Corporate borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Financial liabilities at fair value through profit or loss, category [member] \| Property-specific borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Financial liabilities at fair value through profit or loss, category [member] \| Subsidiary borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Financial liabilities at fair value through profit or loss, category [member] \| Property-specific borrowings and subsidiary borrowings [Member]
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Financial liabilities at fair value through profit or loss, category [member] \| Accounts payable and other
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value		3,362
Financial liabilities at fair value through profit or loss, category [member] \| Subsidiary equity obligations
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	1,896	1,725
Fair Value Through OCI
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Fair Value Through OCI \| Corporate borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Fair Value Through OCI \| Property-specific borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Fair Value Through OCI \| Subsidiary borrowings
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Fair Value Through OCI \| Property-specific borrowings and subsidiary borrowings [Member]
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	0	0
Fair Value Through OCI \| Accounts payable and other
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value		0
Fair Value Through OCI \| Subsidiary equity obligations
Disclosure of financial liabilities [line items]
Financial liabilities, carrying value	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Other Financial Assets (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about financial instruments [abstract]
Current	$ 3,605	$ 3,382
Non-current	8,863	2,845
Total	$ 12,468	$ 6,227

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value Hierarchy Levels (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	$ 33,281	$ 27,179
Financial liabilities	187,156	147,180
Level 1
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	2,386	1,994
Financial liabilities	93	81
Level 1 \| Accounts payable and other
Disclosure of carrying value and fair value of assets and liabilities
Financial liabilities	93	81
Level 1 \| Subsidiary equity obligations
Disclosure of carrying value and fair value of assets and liabilities
Financial liabilities	0	0
Level 1 \| Government bonds
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	0	0
Level 1 \| Corporate bonds
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	0	0
Level 1 \| Fixed income securities and other
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	419	22
Level 1 \| Common shares and warrants
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	1,966	1,928
Level 1 \| Loans and notes receivables
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	0	0
Level 1 \| Accounts receivable and other
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	1	44
Level 2
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	8,145	3,354
Financial liabilities	3,789	2,707
Level 2 \| Accounts payable and other
Disclosure of carrying value and fair value of assets and liabilities
Financial liabilities	3,749	2,622
Level 2 \| Subsidiary equity obligations
Disclosure of carrying value and fair value of assets and liabilities
Financial liabilities	40	85
Level 2 \| Government bonds
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	2,403	88
Level 2 \| Corporate bonds
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	2,682	632
Level 2 \| Fixed income securities and other
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	851	369
Level 2 \| Common shares and warrants
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	421	229
Level 2 \| Loans and notes receivables
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	51	46
Level 2 \| Accounts receivable and other
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	1,737	1,990
Level 3
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	1,780	795
Financial liabilities	2,542	2,299
Level 3 \| Accounts payable and other
Disclosure of carrying value and fair value of assets and liabilities
Financial liabilities	686	659
Level 3 \| Subsidiary equity obligations
Disclosure of carrying value and fair value of assets and liabilities
Financial liabilities	1,856	1,640
Level 3 \| Government bonds
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	0	0
Level 3 \| Corporate bonds
Disclosure of carrying value and fair value of assets and liabilities
Financial assets		0
Level 3 \| Fixed income securities and other
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	480	490
Level 3 \| Common shares and warrants
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	802	222
Level 3 \| Loans and notes receivables
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	4	4
Level 3 \| Accounts receivable and other
Disclosure of carrying value and fair value of assets and liabilities
Financial assets	$ 219	$ 79

FAIR VALUE OF FINANCIAL INSTR_7

FAIR VALUE OF FINANCIAL INSTRUMENTS - Valuation Techniques on Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	$ 33,281	$ 27,179
Financial liabilities	(187,156)	(147,180)
Level 2
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	8,145	3,354
Financial liabilities	(3,789)	(2,707)
Level 2 \| Accounts payable and other
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(3,749)	(2,622)
Level 2 \| Accounts payable and other \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(3,749)
Level 2 \| Redeemable fund units (subsidiary equity obligations)
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(40)	(85)
Level 2 \| Redeemable fund units (subsidiary equity obligations) \| Market approach
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(40)
Level 2 \| Accounts receivable and other
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	1,737	1,990
Level 2 \| Accounts receivable and other \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	1,737
Level 2 \| Other financial assets \| Market approach
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	6,408
Level 2 \| Fixed income securities and other
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	851	369
Level 2 \| Corporate bonds
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	2,682	632
Level 2 \| Common shares and warrants
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	421	229
Level 3
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	1,780	795
Financial liabilities	(2,542)	(2,299)
Level 3 \| Accounts payable and other
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(686)	(659)
Level 3 \| Accounts payable and other \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(686)
Level 3 \| Redeemable fund units (subsidiary equity obligations)
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(1,856)	(1,640)
Level 3 \| Redeemable fund units (subsidiary equity obligations) \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial liabilities	(1,856)
Level 3 \| Accounts receivable and other
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	219	79
Level 3 \| Fixed income securities and other
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	480	490
Level 3 \| Fixed income securities and other \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	480
Level 3 \| Corporate bonds
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets		0
Level 3 \| Corporate bonds \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	275
Level 3 \| Common shares and warrants
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	802	$ 222
Level 3 \| Common shares and warrants \| Black-Scholes model
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	802
Level 3 \| Accounts receivable and other \| Discounted cash flows
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurements Of Assets And Liabilities [Table] [Line Items]
Financial assets	$ 219

FAIR VALUE OF FINANCIAL INSTR_8

FAIR VALUE OF FINANCIAL INSTRUMENTS - Change in Balance of Fair Value Assets and Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Financial Assets
Balance, beginning of period	$ 27,179
Balance, end of period	33,281	$ 27,179
Financial Liabilities
Balance, beginning of period	147,180
Balance, end of period	187,156	147,180
Level 3
Financial Assets
Balance, beginning of period	795
Balance, end of period	1,780	795
Financial Liabilities
Balance, beginning of period	2,299
Balance, end of period	2,542	2,299
At fair value \| Level 3
Financial Assets
Balance, beginning of period	795	869
Fair value changes in net income	278	(113)
Gains (losses) recognised in other comprehensive income, fair value measurement, assets	(10)	(2)
Additions, net of disposals	717	41
Balance, end of period	1,780	795
Financial Liabilities
Balance, beginning of period	2,299	2,263
Fair value changes in net income	(27)	(89)
Fair value changes in other comprehensive income	6	(48)
Additions, net of disposals	264	173
Balance, end of period	$ 2,542	$ 2,299

FAIR VALUE OF FINANCIAL INSTR_9

FAIR VALUE OF FINANCIAL INSTRUMENTS - Amortized Cost for which Fair Value is Disclosed (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	$ 184,231	$ 146,083
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Corporate borrowings \| Level 1
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	7,841	6,376
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Corporate borrowings \| Level 2
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	92	91
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Corporate borrowings \| Level 3
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	0	0
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Property-specific borrowings \| Level 1
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	6,467	6,918
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Property-specific borrowings \| Level 2
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	52,386	30,214
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Property-specific borrowings \| Level 3
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	70,875	67,159
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Subsidiary borrowings \| Level 1
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	6,111	3,640
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Subsidiary borrowings \| Level 2
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	299	2,355
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Subsidiary borrowings \| Level 3
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	2,222	2,562
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Subsidiary equity obligations \| Level 1
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	0	0
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Subsidiary equity obligations \| Level 2
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	73	0
Not measured at fair value in statement of financial position but for which fair value is disclosed \| Subsidiary equity obligations \| Level 3
Disclosure of fair value measurement of liabilities [line items]
Financial liabilities	$ 2,170	$ 2,151

FAIR VALUE OF FINANCIAL INST_10

FAIR VALUE OF FINANCIAL INSTRUMENTS - Netting of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Accounts payable and other
Disclosure of offsetting of financial liabilities [line items]
Gross amounts of financial instruments before netting	$ 2,853	$ 1,873
Gross amounts of financial instruments set-off in Consolidated Balance Sheets	(366)	(250)
Net amount of financial instruments in Consolidated Balance Sheets	2,487	1,623
Accounts receivable and other
Disclosure of offsetting of financial assets [line items]
Gross amounts of financial instruments before netting	2,380	2,367
Gross amounts of financial instruments set-off in Consolidated Balance Sheets	(423)	(254)
Net amount of financial instruments in Consolidated Balance Sheets	$ 1,957	$ 2,113

ACCOUNTS RECEIVABLE AND OTHER -

ACCOUNTS RECEIVABLE AND OTHER - Schedule of Accounts Receivable and Other (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2016
Subclassifications of assets, liabilities and equities [abstract]
Accounts receivable	$ 11,129		$ 9,167
Prepaid expenses and other assets	5,636		5,508
Restricted cash	1,595		1,923
Sustainable resources	109	$ 109	333	$ 390
Accounts receivable and other	$ 18,469		$ 16,931

ACCOUNTS RECEIVABLE AND OTHER_2

ACCOUNTS RECEIVABLE AND OTHER - Schedule of Current and Non-Current Accounts Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Subclassifications of assets, liabilities and equities [abstract]
Current	$ 13,862	$ 11,911
Non-current	4,607	5,020
Accounts receivable and other	$ 18,469	$ 16,931

ACCOUNTS RECEIVABLE AND OTHER

ACCOUNTS RECEIVABLE AND OTHER - Narrative (Details) m³ in Millions, a in Millions, $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2019USD ($)am³	Dec. 31, 2018USD ($)
Disclosure of acquired receivables [line items]
Contract assets			$ 682	$ 641
Disposals, Sustainable Resources	$ 270	$ 0
Area of consumable freehold timberlands (in acres) \| a			1.7
Volume of mature timber available for harvest (in cubic meters) \| m³			40.3
Additions	$ 77	$ 21
Sustainable Resources [Member] \| At fair value
Disclosure of acquired receivables [line items]
Terminal Capitalization Rate			6.10%	5.70%
Termination valuation date			21 years	30 years

ACCOUNTS RECEIVABLE AND OTHER_3

ACCOUNTS RECEIVABLE AND OTHER - Schedule Of Change In Balance Of Timberlands And Other Agricultural Assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Subclassifications of assets, liabilities and equities [abstract]
Balance, beginning of year	$ 333
Additions	77	$ 21
Disposals, Sustainable Resources	(270)	0
Fair value adjustments	12	42
Decrease due to harvest	(39)	(89)
Foreign currency changes	(4)	$ (31)
Balance, end of year	$ 109

INVENTORY - Schedule of Invento

INVENTORY - Schedule of Inventory Properties (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Inventory Properties [Line Items]
Total	$ 10,272	$ 6,989
Fuel Inventory [Member]
Disclosure of Inventory Properties [Line Items]
Total	690	585
Residential properties under development [Member]
Disclosure of Inventory Properties [Line Items]
Total	3,007	2,001
Land held for development [Member]
Disclosure of Inventory Properties [Line Items]
Total	1,781	1,794
Completed residential properties [Member]
Disclosure of Inventory Properties [Line Items]
Total	998	1,398
Industrial products and other [Member]
Disclosure of Inventory Properties [Line Items]
Total	2,816	914
Other
Disclosure of Inventory Properties [Line Items]
Total	$ 1,670	$ 882

INVENTORY - Schedule of Current

INVENTORY - Schedule of Current and Non-Current Inventory Balances (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Inventories [Abstract]
Current	$ 7,054	$ 4,578
Non-current	3,218	2,411
Total	$ 10,272	$ 6,989

INVENTORY - Narrative (Details)

INVENTORY - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
INVENTORY - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Inventories [Abstract]
Cost of inventories recognised as expense during period	$ 26,500	$ 25,700
Impairment of inventory	(38)	22
Inventories pledged as security for liabilities	$ 4,700	$ 3,500

HELD FOR SALE - Schedule Of Ass

HELD FOR SALE - Schedule Of Assets And Liabilities Classified As Held-For-Sale (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Accounts receivable and other	$ 18,469		$ 16,931
Investment properties	96,686		84,309	$ 56,870
Property, plant and equipment	89,264		67,294
Equity accounted investments	40,698		33,647	31,994
Deferred income tax assets	3,572		2,732
Non-current assets or disposal groups classified as held for sale	3,502		2,185
Liabilities
Accounts payable and other	43,077	$ 43,077	23,989
Non-recourse borrowings of managed entities	136,292		111,809
Property-specific borrowings	127,869		103,209
Subsidiary borrowings	8,423		8,600
Deferred income tax liabilities	14,849		12,236
Liabilities associated with assets classified as held for sale	1,690		812
Assets and liabilities classified as held for sale
Assets
Cash and cash equivalents	58		21
Accounts receivable and other	174		112
Investment properties	251		617
Property, plant and equipment	1,730		779
Equity accounted investments	413		568
Other long-term assets	872		88
Deferred income tax assets	4		0
Liabilities
Accounts payable and other	223		193
Non-recourse borrowings of managed entities	1,071		619
Deferred income tax liabilities	396		0
Real Estate
Assets
Property, plant and equipment	9,729		7,652	$ 5,779
Equity accounted investments	22,314		22,949
Liabilities
Property-specific borrowings	67,909		63,494
Subsidiary borrowings	2,024		2,504
Real Estate \| Assets and liabilities classified as held for sale
Assets
Cash and cash equivalents	1
Accounts receivable and other	5
Investment properties	251
Property, plant and equipment	0
Equity accounted investments	223
Other long-term assets	0
Deferred income tax assets	0
Non-current assets or disposal groups classified as held for sale	480
Liabilities
Accounts payable and other	2
Non-recourse borrowings of managed entities	138
Deferred income tax liabilities	0
Liabilities associated with assets classified as held for sale	140
Infrastructure
Assets
Property, plant and equipment	23,772		13,650
Equity accounted investments	8,972		7,636
Liabilities
Property-specific borrowings	20,776		14,334
Subsidiary borrowings	2,470		1,993
Infrastructure \| Assets and liabilities classified as held for sale
Assets
Cash and cash equivalents	42
Accounts receivable and other	120
Investment properties	0
Property, plant and equipment	1,307
Equity accounted investments	190
Other long-term assets	872
Deferred income tax assets	1
Non-current assets or disposal groups classified as held for sale	2,532
Liabilities
Accounts payable and other	182
Non-recourse borrowings of managed entities	774
Deferred income tax liabilities	364
Liabilities associated with assets classified as held for sale	1,320
Renewable Power and Other
Assets
Equity accounted investments	1,585		1,119
Renewable Power and Other \| Assets and liabilities classified as held for sale
Assets
Cash and cash equivalents	15
Accounts receivable and other	49
Investment properties	0
Property, plant and equipment	423
Equity accounted investments	0
Other long-term assets	0
Deferred income tax assets	3
Non-current assets or disposal groups classified as held for sale	490
Liabilities
Accounts payable and other	39
Non-recourse borrowings of managed entities	159
Deferred income tax liabilities	32
Liabilities associated with assets classified as held for sale	230
Private Equity
Assets
Equity accounted investments	2,596		1,943
Liabilities
Property-specific borrowings	23,105		10,820
Subsidiary borrowings	$ 0		$ 52

HELD FOR SALE - Narrative (Deta

HELD FOR SALE - Narrative (Details) $ in Billions	12 Months Ended
HELD FOR SALE - Narrative (Details) $ in Billions	Dec. 31, 2019USD ($)
Disclosure of financial assets [line items]
Held for Sale Assets Sold	$ 6.9
Held for Sale Liabilities Sold	2.8
Real Estate
Disclosure of financial assets [line items]
Held for Sale Assets Sold	5.8
Held for Sale Liabilities Sold	$ 2.1
Triple net lease
Disclosure of financial assets [line items]
Number of properties	6
United States \| Office Properties [Member]
Disclosure of financial assets [line items]
Number of properties	1

EQUITY ACCOUNTED INVESTMENTS -

EQUITY ACCOUNTED INVESTMENTS - Schedule Of Investments in Associates and Joint Ventures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	$ 40,698	$ 33,647	$ 31,994
Proportion of ownership interest in joint venture	50.00%	50.00%
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	$ 4,700	$ (9,772)
Oaktree [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	5,231	0
Equity accounted investments	$ 5,231	0
Proportion of ownership interest in joint venture	61.00%
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	$ 5,251
Real Estate and Infrastructure [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate or joint venture	50.00%
Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	$ 22,314	22,949
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	(1,932)
Real Estate \| Core office
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	0	107
Real Estate \| LP Investments and Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	307	1,173
Renewable Power
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	1,154	685
Other
Disclosure Of Associates And Joint Ventures [Line Items]
Investments in Joint Ventures and Associates Accounted for Using the Equity Method	431	434
Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	8,972	7,636
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	$ 1,067
Infrastructure \| Data Infrastructure [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate	45.00%
Carrying Value, associate	$ 2,920	$ 1,705
Proportion of ownership interest in joint venture		45.00%
Infrastructure \| Utilities [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	962	$ 339
Infrastructure \| Transport
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	4,033	4,100
Infrastructure \| Other
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	156	232
Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	2,596	1,943
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	(150)
Private Equity \| Other
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	557	583
Private Equity \| Norbord
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	$ 1,185	$ 1,287
Proportion of ownership interest in joint venture	43.00%	42.00%
Private Equity \| Industrial operations [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, associate	$ 854	$ 73
Renewable Power and Other
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	1,585	$ 1,119
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	$ 440
Bottom of range \| Real Estate \| Core office
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate		7.00%
Bottom of range \| Real Estate \| LP Investments and Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate	3.00%	6.00%
Bottom of range \| Renewable Power
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate	14.00%	14.00%
Bottom of range \| Infrastructure \| Utilities [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate	11.00%	11.00%
Bottom of range \| Infrastructure \| Transport
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate	26.00%	26.00%
Bottom of range \| Infrastructure \| Other
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate	22.00%	22.00%
Bottom of range \| Private Equity \| Other
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate	25.00%	13.00%
Top of range \| Real Estate \| Core office
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate		23.00%
Top of range \| Real Estate \| LP Investments and Other [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate	90.00%	90.00%
Top of range \| Renewable Power
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate	60.00%	60.00%
Top of range \| Infrastructure \| Utilities [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate	50.00%	50.00%
Top of range \| Infrastructure \| Transport
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate	58.00%	58.00%
Top of range \| Infrastructure \| Other
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate	50.00%	50.00%
Top of range \| Private Equity \| Other
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate	90.00%	90.00%
Core office \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, joint ventures	$ 9,440	$ 8,258
Core office \| Bottom of range \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	14.00%	15.00%
Core office \| Top of range \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	56.00%	56.00%
LP Investments and Other [Member] \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, joint ventures	$ 2,012	$ 2,252
LP Investments and Other [Member] \| Bottom of range \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	18.00%	12.00%
LP Investments and Other [Member] \| Top of range \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	80.00%	90.00%
Core retail \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, joint ventures	$ 10,555	$ 11,159
Core retail \| Bottom of range \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	12.00%	12.00%
Core retail \| Top of range \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	68.00%	68.00%
Aggregated individually immaterial joint ventures [member] \| Other
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, joint ventures	$ 383	$ 395
Other \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, joint ventures	$ 185	$ 139
Proportion of ownership interest in joint venture	50.00%	50.00%
Energy [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Carrying Value, joint ventures	$ 716	$ 1,121
Aggregated individually immaterial associates [member] \| Bottom of range
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate or joint venture	16.00%	18.00%
Aggregated individually immaterial associates [member] \| Top of range
Disclosure Of Associates And Joint Ventures [Line Items]
Proportion of ownership interest in associate or joint venture	85.00%	85.00%

EQUITY ACCOUNTED INVESTMENTS _2

EQUITY ACCOUNTED INVESTMENTS - Schedule Of Changes In Balance Of Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Associates And Joint Ventures [Line Items]
Balance, beginning of year	$ 33,647	$ 31,994
Net additions (disposals)	4,700	(9,772)
Acquisitions through business combinations		12,752
Equity accounted investments	895
Investment Accounted for Using Equity Method, Share of comprehensive income	2,815	1,606
Distributions received		(1,903)
Investment Accounted For Using Equity Method, Distribution Received	1,300
Foreign exchange	(35)	(1,030)
Balance, end of year	40,698	33,647
Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Balance, beginning of year	22,949
Net additions (disposals)	(1,932)
Acquisitions through business combinations	0
Investment Accounted for Using Equity Method, Share of comprehensive income	1,986
Distributions received	(810)
Foreign exchange	121
Balance, end of year	22,314	22,949
Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Balance, beginning of year	7,636
Net additions (disposals)	1,067
Acquisitions through business combinations	48
Investment Accounted for Using Equity Method, Share of comprehensive income	537
Distributions received	(166)
Foreign exchange	(150)
Balance, end of year	8,972	7,636
Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Balance, beginning of year	1,943
Net additions (disposals)	(150)
Acquisitions through business combinations	847
Investment Accounted for Using Equity Method, Share of comprehensive income	97
Distributions received	(122)
Foreign exchange	(19)
Balance, end of year	2,596	1,943
Renewable Power and Other
Disclosure Of Associates And Joint Ventures [Line Items]
Balance, beginning of year	1,119
Net additions (disposals)	440
Acquisitions through business combinations	0
Investment Accounted for Using Equity Method, Share of comprehensive income	169
Distributions received	(157)
Foreign exchange	14
Balance, end of year	1,585	1,119
Oaktree [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Balance, beginning of year	0
Net additions (disposals)	5,251
Acquisitions through business combinations	0
Investment Accounted for Using Equity Method, Share of comprehensive income	26
Distributions received	(45)
Foreign exchange	(1)
Balance, end of year	$ 5,231	$ 0

EQUITY ACCOUNTED INVESTMENTS _3

EQUITY ACCOUNTED INVESTMENTS - Schedule Of Current And Non-Current Assets And Liabilities Of Investments In Associates And Joint Ventures (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	$ 13,003	$ 8,649
Non-current assets	155,246	130,617
Current liabilities	13,333	8,470
Non-current liabilities	68,780	54,354
Renewable Power
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	539	182
Non-current assets	5,967	2,845
Current liabilities	535	93
Non-current liabilities	2,530	974
Other
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	1,022	1,081
Non-current assets	0	53
Current liabilities	118	142
Non-current liabilities	113	152
Oaktree [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	1,497	0
Non-current assets	16,870	0
Current liabilities	1,172	0
Non-current liabilities	7,434	0
Core office \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	1	15
Non-current assets	0	1,998
Current liabilities	0	12
Non-current liabilities	0	457
LP Investments and Other [Member] \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	31	86
Non-current assets	955	3,430
Current liabilities	15	56
Non-current liabilities	390	966
Other \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	21	118
Non-current assets	374	659
Current liabilities	27	117
Non-current liabilities	133	117
Other \| Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	793	892
Non-current assets	2,362	1,910
Current liabilities	697	601
Non-current liabilities	1,562	1,004
Data Infrastructure [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	912	447
Non-current assets	11,636	6,692
Current liabilities	1,042	438
Non-current liabilities	4,908	2,902
Transport \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	1,199	1,507
Non-current assets	18,028	15,676
Current liabilities	1,953	1,871
Non-current liabilities	8,359	6,358
Utilities [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	869	289
Non-current assets	6,500	2,227
Current liabilities	687	325
Non-current liabilities	4,152	1,391
Industrial products [Member] \| Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	1,038	38
Non-current assets	743	277
Current liabilities	485	27
Non-current liabilities	256	136
Norbord \| Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	462	509
Non-current assets	3,911	4,574
Current liabilities	260	363
Non-current liabilities	1,355	1,204
Core office \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	2,790	1,789
Non-current assets	36,861	33,245
Current liabilities	4,824	2,766
Non-current liabilities	13,987	13,998
LP Investments and Other [Member] \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	648	686
Non-current assets	9,559	11,645
Current liabilities	648	776
Non-current liabilities	5,247	5,256
Other \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	35	13
Non-current assets	299	216
Current liabilities	6	5
Non-current liabilities	93	89
Energy [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	154	165
Non-current assets	5,455	5,034
Current liabilities	249	144
Non-current liabilities	3,927	2,813
Core retail \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Current assets	992	832
Non-current assets	35,726	40,136
Current liabilities	615	734
Non-current liabilities	$ 14,334	$ 16,537

EQUITY ACCOUNTED INVESTMENTS _4

EQUITY ACCOUNTED INVESTMENTS - Schedule Of Revenue, Net Income and OCI Of Investments (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	$ 15,798	$ 18,182
Profit (Loss) of associate or joint venture	2,399	5,192
Other Comprehensive Income of associate or joint venture	411	457
Renewable Power
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	491	431
Profit (Loss) of associate or joint venture	79	88
Other Comprehensive Income of associate or joint venture	469	242
Other
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	133	400
Profit (Loss) of associate or joint venture	44	104
Other Comprehensive Income of associate or joint venture	(3)	1
Industrial operations [Member] \| Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	445	1,770
Profit (Loss) of associate or joint venture	62	122
Other Comprehensive Income of associate or joint venture	(21)	0
Oaktree [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	0	295
Profit (Loss) of associate or joint venture	0	12
Other Comprehensive Income of associate or joint venture	0	(6)
Norbord \| Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	2,424	1,731
Profit (Loss) of associate or joint venture	248	(165)
Other Comprehensive Income of associate or joint venture	(21)	13
Other \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	84	55
Profit (Loss) of associate or joint venture	83	(45)
Other Comprehensive Income of associate or joint venture	363	(210)
Other \| Private Equity
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	1,502	1,007
Profit (Loss) of associate or joint venture	86	247
Other Comprehensive Income of associate or joint venture	(15)	26
Data Infrastructure [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	804	1,447
Profit (Loss) of associate or joint venture	64	(38)
Other Comprehensive Income of associate or joint venture	244	57
Transport \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	3,673	3,277
Profit (Loss) of associate or joint venture	(309)	3
Other Comprehensive Income of associate or joint venture	(826)	363
Utilities [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	541	1,046
Profit (Loss) of associate or joint venture	92	354
Other Comprehensive Income of associate or joint venture	110	26
LP Investments and Other [Member] \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	545	423
Profit (Loss) of associate or joint venture	301	126
Other Comprehensive Income of associate or joint venture	191	50
Core retail \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	1,536	0
Profit (Loss) of associate or joint venture	(1,013)	0
Other Comprehensive Income of associate or joint venture	(15)	0
Core office \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	60	0
Profit (Loss) of associate or joint venture	71	1
Other Comprehensive Income of associate or joint venture	0	0
Other \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	75	74
Profit (Loss) of associate or joint venture	19	19
Other Comprehensive Income of associate or joint venture	(29)	0
Energy [Member] \| Infrastructure
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	695	696
Profit (Loss) of associate or joint venture	92	358
Other Comprehensive Income of associate or joint venture	0	0
LP Investments and Other [Member] \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	342	714
Profit (Loss) of associate or joint venture	487	23
Other Comprehensive Income of associate or joint venture	(2)	0
Core retail \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture		2,430	$ 889
Profit (Loss) of associate or joint venture		2,114	449
Other Comprehensive Income of associate or joint venture		0	$ 0
Core office \| Real Estate
Disclosure Of Associates And Joint Ventures [Line Items]
Revenue of associate or joint venture	1,559	2,386
Profit (Loss) of associate or joint venture	1,544	1,869
Other Comprehensive Income of associate or joint venture	$ (34)	$ (105)

EQUITY ACCOUNTED INVESTMENTS _5

EQUITY ACCOUNTED INVESTMENTS - Schedule Of Fair Value Of Equity Accounted Investments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Associates And Joint Ventures [Line Items]
Public Price	$ 968	$ 961
Equity accounted investments	40,698	33,647	$ 31,994
Norbord
Disclosure Of Associates And Joint Ventures [Line Items]
Public Price	930	925
Other
Disclosure Of Associates And Joint Ventures [Line Items]
Public Price	38	36
Publicly traded equity accounted investment [Member]
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	1,185	1,287
Publicly traded equity accounted investment [Member] \| Norbord
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	1,185	1,287
Publicly traded equity accounted investment [Member] \| Other
Disclosure Of Associates And Joint Ventures [Line Items]
Equity accounted investments	$ 0	$ 0

EQUITY ACCOUNTED INVESTMENTS EQ

EQUITY ACCOUNTED INVESTMENTS EQUITY ACCOUNTED INVESTMENTS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Equity Accounted Income - Narrative [Abstract]
Investment Accounted For Using Equity Method, Additions, Net Of Disposals	$ 4,700	$ (9,772)

INVESTMENT PROPERTIES - Schedul

INVESTMENT PROPERTIES - Schedule of Changes in Fair Value of Investment Properties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about investment property [line items]
Fair value, beginning of year	$ 84,309	$ 56,870
Additions	11,638	3,069
Acquisitions through business combinations, investment property		33,024
Right-of-use assets	2,600
Dispositions	(6,029)	(8,555)
Fair value changes	1,710	1,610
Foreign currency translation and other	461	(1,709)
Fair value, end of year3	96,686	84,309
Investment property [member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of detailed information about investment property [line items]
Right-of-use assets	$ 928	$ 0

INVESTMENT PROPERTIES - Narrati

INVESTMENT PROPERTIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Investment property [abstract]
Additions other than through business combinations, investment property	$ 11,638	$ 3,069
Dispositions	(6,029)	(8,555)
Rental income from investment property	5,800	5,400
Direct operating expense from investment property	$ 2,400	2,100
Acquisitions through business combinations, investment property		$ 33,024

INVESTMENT PROPERTIES - Sched_2

INVESTMENT PROPERTIES - Schedule of Investment Properties Measured at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of fair value measurement of assets [line items]
Investment properties	$ 96,686	$ 84,309	$ 56,870
Core office \| United States
Disclosure of fair value measurement of assets [line items]
Investment properties	15,748	15,237
Core office \| Canada
Disclosure of fair value measurement of assets [line items]
Investment properties	4,806	4,245
Core office \| Australia
Disclosure of fair value measurement of assets [line items]
Investment properties	2,300	2,391
Core office \| Europe
Disclosure of fair value measurement of assets [line items]
Investment properties	2,867	1,331
Core office \| Brazil
Disclosure of fair value measurement of assets [line items]
Investment properties	361	329
Core retail
Disclosure of fair value measurement of assets [line items]
Investment properties	21,561	17,607
LP investments office
Disclosure of fair value measurement of assets [line items]
Investment properties	8,756	8,438
LP investments retail
Disclosure of fair value measurement of assets [line items]
Investment properties	2,812	3,414
Logistics
Disclosure of fair value measurement of assets [line items]
Investment properties	94	183
Multifamily [Member]
Disclosure of fair value measurement of assets [line items]
Investment properties	2,937	4,151
Triple net lease
Disclosure of fair value measurement of assets [line items]
Investment properties	4,508	5,067
Self-storage
Disclosure of fair value measurement of assets [line items]
Investment properties	1,007	931
Student housing
Disclosure of fair value measurement of assets [line items]
Investment properties	2,605	2,417
Manufactured housing
Disclosure of fair value measurement of assets [line items]
Investment properties	2,446	2,369
Mixed-Use
Disclosure of fair value measurement of assets [line items]
Investment properties	2,703	12,086
Directly-held real estate properties [Member]
Disclosure of fair value measurement of assets [line items]
Investment properties	19,814	2,750
Other investment properties
Disclosure of fair value measurement of assets [line items]
Investment properties	$ 1,361	$ 1,363

INVESTMENT PROPERTIES - Sched_3

INVESTMENT PROPERTIES - Schedule of Significant Unobservable Inputs (Details) - year	Dec. 31, 2019	Dec. 31, 2018
Core office \| United States
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	7.00%	6.90%
Terminal Capitalization Rate	5.60%	5.60%
Investment Horizon (years)	12	12
Core office \| Canada
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	5.90%	6.00%
Terminal Capitalization Rate	5.20%	5.40%
Investment Horizon (years)	10	10
Core office \| Australia
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	6.80%	7.00%
Terminal Capitalization Rate	5.90%	6.20%
Investment Horizon (years)	10	10
Core office \| Brazil
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	4.60%
Terminal Capitalization Rate	4.10%
Investment Horizon (years)	11
Core office \| Brazil
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	7.90%	9.60%
Terminal Capitalization Rate	7.40%	7.70%
Investment Horizon (years)	10	6
Core retail
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	6.70%	7.10%
Terminal Capitalization Rate	5.40%	6.00%
Investment Horizon (years)	10	12
LP investments office
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	10.00%	10.20%
Terminal Capitalization Rate	7.30%	7.00%
Investment Horizon (years)	7	6
Opportunistic retail
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	8.80%	8.90%
Terminal Capitalization Rate	7.30%	7.80%
Investment Horizon (years)	10	9
Mixed-Use
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	7.60%	7.80%
Terminal Capitalization Rate	5.40%	5.40%
Investment Horizon (years)	10	10
Industrial
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	5.80%	9.30%
Terminal Capitalization Rate		8.30%
Investment Horizon (years)		10
Multifamily
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	5.10%	4.80%
Triple net lease
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	6.30%	6.30%
Self-storage
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	5.60%	5.70%
Student housing
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	5.80%	5.60%
Manufactured housing
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	5.50%	5.40%
Directly-held real estate properties [Member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate		7.40%
Other investment properties
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	8.90%	9.30%
Minimum \| Directly-held real estate properties [Member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	5.20%
Maximum \| Directly-held real estate properties [Member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Discount Rate	9.20%

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant and Equipment by Operating Segments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 89,264	$ 67,294
Right-of-use assets	2,600
Costs
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	77,433	54,907
Accumulated fair value changes
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	24,965	22,351
Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(13,134)	(9,964)
Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	41,595	38,871
Renewable Power \| Costs
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	27,820	26,108	$ 24,991
Renewable Power \| Accumulated fair value changes
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	20,465	18,260	13,280
Renewable Power \| Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(6,690)	(5,497)	(4,681)
Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	23,772	13,650
Infrastructure \| Costs
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	22,454	12,059	9,253
Infrastructure \| Accumulated fair value changes
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	3,777	3,480	3,272
Infrastructure \| Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(2,459)	(1,889)	(1,622)
Real Estate
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	9,729	7,652	5,779
Real Estate \| Costs
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	9,890	7,713	5,854
Real Estate \| Accumulated fair value changes
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	1,366	1,045	798
Real Estate \| Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(1,527)	(1,106)	(873)
Private Equity and Other
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	14,168	7,121	2,733
Private Equity and Other \| Costs
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	17,269	9,027	4,050
Private Equity and Other \| Accumulated fair value changes
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(643)	(434)
Private Equity and Other \| Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(2,458)	(1,472)	$ (1,086)
Property, plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Assets subject to operating leases	3,700
Right-of-use assets	5,400
Property, plant and equipment [member] \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	1,100
Property, plant and equipment [member] \| Renewable Power \| Costs
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	407	0
Property, plant and equipment [member] \| Private Equity and Other [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	1,300
Property, plant and equipment [member] \| Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	2,200
Property, plant and equipment [member] \| Infrastructure \| Costs
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	1,207	0
Property, plant and equipment [member] \| Real Estate
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	769	0
Property, plant and equipment [member] \| Real Estate \| Costs
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	769	0
Property, plant and equipment [member] \| Real Estate \| Accumulated fair value changes
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	0	0
Property, plant and equipment [member] \| Real Estate \| Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	0	0
Property, plant and equipment [member] \| Private Equity and Other
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	1,032	0
Property, plant and equipment [member] \| Private Equity and Other \| Costs
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	1,032	0
Property, plant and equipment [member] \| Private Equity and Other \| Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	0	0
Property, plant and equipment [member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	$ 88,500	$ 3,416

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment, revalued assets, at cost	$ 51.7
Property, plant and equipment, pledged as security	$ 66.3	$ 50.5
Brazil \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Weighted-average remaining duration, property, plant, and equipment	32 years	29 years
Hydroelectric [Member] \| Brazil \| Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Renewal term, property, plant, and equipment	30 years

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT - Schedule of Renewable Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	$ 67,294
Changes in basis of accounting	2,600
Balance, end of period	89,264	$ 67,294
Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	54,907
Balance, end of period	77,433	54,907
Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	22,351
Balance, end of period	24,965	22,351
Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(9,964)
Balance, end of period	(13,134)	(9,964)
Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	38,871
Balance, end of period	41,595	38,871
Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	26,108	24,991
Additions, net of disposals and assets reclassified as held for sale	100	(516)
Acquisitions through business combinations	1,308	2,968
Foreign currency translation	(103)	(1,335)
Balance, end of period	27,820	26,108
Renewable Power \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	18,260	13,280
Foreign currency translation	133	(631)
Fair value changes	2,233	5,611
Dispositions and assets reclassified as held for sale	(161)	0
Balance, end of period	20,465	18,260
Renewable Power \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(5,497)	(4,681)
Foreign currency translation	(31)	293
Dispositions and assets reclassified as held for sale	117	46
Depreciation expenses	(1,279)	(1,155)
Balance, end of period	(6,690)	(5,497)
Hydroelectric [Member] \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	25,405
Balance, end of period	26,614	25,405
Hydroelectric [Member] \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	13,868	14,667
Additions, net of disposals and assets reclassified as held for sale	162	189
Acquisitions through business combinations	0	0
Foreign currency translation	(14)	(988)
Balance, end of period	14,099	13,868
Hydroelectric [Member] \| Renewable Power \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	15,416	12,176
Foreign currency translation	142	(448)
Fair value changes	1,369	3,688
Dispositions and assets reclassified as held for sale	0	0
Balance, end of period	16,927	15,416
Hydroelectric [Member] \| Renewable Power \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(3,879)	(3,564)
Foreign currency translation	(8)	227
Dispositions and assets reclassified as held for sale	7	5
Depreciation expenses	(532)	(547)
Balance, end of period	(4,412)	(3,879)
Wind Energy, Solar and Other \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	9,297
Balance, end of period	9,874	9,297
Wind Energy, Solar and Other \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	8,576	7,622
Additions, net of disposals and assets reclassified as held for sale	(342)	(21)
Acquisitions through business combinations	566	1,184
Foreign currency translation	(54)	(209)
Balance, end of period	9,067	8,576
Wind Energy, Solar and Other \| Renewable Power \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	2,079	1,053
Foreign currency translation	(34)	(195)
Fair value changes	669	1,221
Dispositions and assets reclassified as held for sale	(126)	0
Balance, end of period	2,588	2,079
Wind Energy, Solar and Other \| Renewable Power \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(1,358)	(1,008)
Foreign currency translation	(22)	60
Dispositions and assets reclassified as held for sale	101	6
Depreciation expenses	(502)	(416)
Balance, end of period	(1,781)	(1,358)
Solar and Other [Member] \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	4,169
Balance, end of period	5,107	4,169
Solar and Other [Member] \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	3,664	2,702
Additions, net of disposals and assets reclassified as held for sale	280	(684)
Acquisitions through business combinations	742	1,784
Foreign currency translation	(35)	(138)
Balance, end of period	4,654	3,664
Solar and Other [Member] \| Renewable Power \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	765	51
Foreign currency translation	25	12
Fair value changes	195	702
Dispositions and assets reclassified as held for sale	(35)	0
Balance, end of period	950	765
Solar and Other [Member] \| Renewable Power \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(260)	(109)
Foreign currency translation	(1)	6
Dispositions and assets reclassified as held for sale	9	35
Depreciation expenses	(245)	(192)
Balance, end of period	(497)	(260)
North America [Member] \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	24,274
Balance, end of period	25,617	24,274
Brazil \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	3,505
Balance, end of period	3,575	3,505
Colombia \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	6,665
Balance, end of period	7,353	6,665
Brazil \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	3,748
Balance, end of period	3,770	3,748
Other \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	679
Balance, end of period	1,280	679
Property, plant and equipment [member]
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	5,400
Property, plant and equipment [member] \| Renewable Power
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	1,100
Property, plant and equipment [member] \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	407	0
Property, plant and equipment [member] \| Hydroelectric [Member] \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	83	0
Property, plant and equipment [member] \| Wind Energy, Solar and Other \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	321	0
Property, plant and equipment [member] \| Solar and Other [Member] \| Renewable Power \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	$ 3	$ 0

PROPERTY, PLANT AND EQUIPMENT_4

PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant and Equipment Measured at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 89,264	$ 67,294
Infrastructure
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	23,772	13,650
Renewable Power
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	41,595	38,871
Renewable Power \| North America
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	25,617	24,274
Renewable Power \| Brazil
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	3,575	3,505
Renewable Power \| Colombia
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	7,353	6,665
Renewable Power \| Europe
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 3,770	$ 3,748

PROPERTY, PLANT AND EQUIPMENT_5

PROPERTY, PLANT AND EQUIPMENT - Schedule of Valuation Metrics (Details)	Dec. 31, 2019year	Dec. 31, 2018year
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	2,034	2,033
Data Infrastructure [Member] \| Infrastructure \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Termination valuation date	10
Data Infrastructure [Member] \| Infrastructure \| Bottom of range \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	13.00%
Terminal capitalization multiples	11
Data Infrastructure [Member] \| Infrastructure \| Top of range \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	15.00%
Terminal capitalization multiples	17
Property, plant and equipment [member] \| Renewable Power \| Bottom of range \| North America [Member] \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Terminal capitalization rate	6.20%
Property, plant and equipment [member] \| Renewable Power \| Top of range \| North America [Member] \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Terminal capitalization rate	6.40%
Property, plant and equipment [member] \| Hydroelectric [Member] \| Renewable Power \| Colombia \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Terminal capitalization rate	9.80%	10.40%
Terminal Year	2,039	2,038
Property, plant and equipment [member] \| Hydroelectric [Member] \| Renewable Power \| Bottom of range \| North America [Member] \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Terminal capitalization rate		6.10%
Property, plant and equipment [member] \| Hydroelectric [Member] \| Renewable Power \| Top of range \| North America [Member] \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Terminal capitalization rate		7.10%
Property, plant and equipment [member] \| Utilities [Member] \| Infrastructure \| Bottom of range \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	7.00%	7.00%
Terminal capitalization multiples	8	8
Termination valuation date	10	10
Property, plant and equipment [member] \| Utilities [Member] \| Infrastructure \| Top of range \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	14.00%	14.00%
Terminal capitalization multiples	21	22
Termination valuation date	20	20
Property, plant and equipment [member] \| Transport \| Infrastructure \| Bottom of range \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	9.00%	10.00%
Terminal capitalization multiples	9	9
Termination valuation date	10	10
Property, plant and equipment [member] \| Transport \| Infrastructure \| Top of range \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	14.00%	13.00%
Terminal capitalization multiples	14	14
Termination valuation date	20	20
Property, plant and equipment [member] \| Energy [Member] \| Infrastructure \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Termination valuation date	5	10
Property, plant and equipment [member] \| Energy [Member] \| Infrastructure \| Bottom of range \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	12.00%	12.00%
Terminal capitalization multiples	10	1
Property, plant and equipment [member] \| Energy [Member] \| Infrastructure \| Top of range \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	15.00%	15.00%
Terminal capitalization multiples	17	14
Property, plant and equipment [member] \| Sustainable Resources [Member] \| Infrastructure \| Bottom of range \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	5.00%	5.00%
Terminal capitalization multiples	5	12
Termination valuation date	3	3
Property, plant and equipment [member] \| Sustainable Resources [Member] \| Infrastructure \| Top of range \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	10.00%	8.00%
Terminal capitalization multiples	10	23
Termination valuation date	21	30
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| North America [Member] \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Terminal Year	2,040	2,039
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| Brazil \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	5.30%
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| Brazil \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	9.50%	10.30%
Terminal Year	2,047	2,047
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| Colombia \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	10.30%	10.90%
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| Bottom of range \| North America [Member] \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	6.20%	6.40%
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| Bottom of range \| Brazil \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates		5.80%
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| Top of range \| North America [Member] \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	6.40%	7.20%
Property, plant and equipment [member] \| Uncontracted [Member] \| Renewable Power \| Top of range \| Brazil \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates		6.10%
Property, plant and equipment [member] \| Contracted [Member] \| Renewable Power \| Brazil \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	3.50%
Property, plant and equipment [member] \| Contracted [Member] \| Renewable Power \| Brazil \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	8.20%	9.00%
Property, plant and equipment [member] \| Contracted [Member] \| Renewable Power \| Colombia \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	9.00%	9.60%
Property, plant and equipment [member] \| Contracted [Member] \| Renewable Power \| Bottom of range \| North America [Member] \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	4.60%	4.80%
Property, plant and equipment [member] \| Contracted [Member] \| Renewable Power \| Bottom of range \| Brazil \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates		4.00%
Property, plant and equipment [member] \| Contracted [Member] \| Renewable Power \| Top of range \| North America [Member] \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates	4.90%	5.60%
Property, plant and equipment [member] \| Contracted [Member] \| Renewable Power \| Top of range \| Brazil \| Discounted cash flows
Disclosure of detailed information about property, plant and equipment [line items]
Discount rates		4.30%

PROPERTY, PLANT AND EQUIPMENT_6

PROPERTY, PLANT AND EQUIPMENT - Schedule of Power Purchase Agreements (Details)	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019BRL (R$)	Dec. 31, 2019EUR (€)	Dec. 31, 2019COP ($)
Renewable Power \| Later Than One Year And Not Later Than Eleven Years \| North America [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	47.00%	47.00%	47.00%	47.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average)	$ 95
Estimates of Future Electricity Prices (weighted average)	$ 62
Renewable Power \| Later Than One Year And Not Later Than Eleven Years \| Brazil
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	68.00%	68.00%	68.00%	68.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average) \| R$		R$ 295
Estimates of Future Electricity Prices (weighted average) \| R$		R$ 273
Renewable Power \| Later Than One Year And Not Later Than Eleven Years \| Colombia
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	25.00%	25.00%	25.00%	25.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average)				$ 217,000
Estimates of Future Electricity Prices (weighted average)				$ 257,000
Renewable Power \| Later Than One Year And Not Later Than Eleven Years \| Brazil
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	71.00%	71.00%	71.00%	71.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average) \| €			€ 82
Estimates of Future Electricity Prices (weighted average) \| €			€ 75
Renewable Power \| Later Than Eleven Years And Not Later Than Twenty Years \| North America [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	17.00%	17.00%	17.00%	17.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average)	$ 87
Estimates of Future Electricity Prices (weighted average)	$ 122
Renewable Power \| Later Than Eleven Years And Not Later Than Twenty Years \| Brazil
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	33.00%	33.00%	33.00%	33.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average) \| R$		R$ 407
Estimates of Future Electricity Prices (weighted average) \| R$		R$ 411
Renewable Power \| Later Than Eleven Years And Not Later Than Twenty Years \| Colombia
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	0.00%	0.00%	0.00%	0.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average)				$ 272,000
Estimates of Future Electricity Prices (weighted average)				$ 358,000
Renewable Power \| Later Than Eleven Years And Not Later Than Twenty Years \| Brazil
Disclosure of detailed information about property, plant and equipment [line items]
Total Generation Contracted under Power Purchase Agreements	13.00%	13.00%	13.00%	13.00%
Power Prices from Long-Term Power Purchase Agreements (weighted average) \| €			€ 102
Estimates of Future Electricity Prices (weighted average) \| €			€ 84
Bottom of range \| Later Than One Year And Not Later Than Eleven Years \| North America [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Period of total generation contracted under power purchase agreements	1 year
Period of power prices from long-term power purchase agreements	1 year
Period of estimates of future electricity prices	1 year
Bottom of range \| Later Than Eleven Years And Not Later Than Twenty Years \| North America [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Period of total generation contracted under power purchase agreements	11 years
Period of power prices from long-term power purchase agreements	11 years
Period of estimates of future electricity prices	11 years
Top of range \| Later Than One Year And Not Later Than Eleven Years \| North America [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Period of total generation contracted under power purchase agreements	10 years
Period of power prices from long-term power purchase agreements	10 years
Period of estimates of future electricity prices	10 years
Top of range \| Later Than Eleven Years And Not Later Than Twenty Years \| North America [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Period of total generation contracted under power purchase agreements	20 years
Period of power prices from long-term power purchase agreements	20 years
Period of estimates of future electricity prices	20 years

PROPERTY, PLANT AND EQUIPMENT_7

PROPERTY, PLANT AND EQUIPMENT - Schedule of Infrastructure Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	$ 67,294
Changes in basis of accounting	2,600
Balance, end of period	89,264	$ 67,294
Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	54,907
Balance, end of period	77,433	54,907
Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	22,351
Balance, end of period	24,965	22,351
Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(9,964)
Balance, end of period	(13,134)	(9,964)
Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	13,650
Balance, end of period	23,772	13,650
Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	12,059	9,253
Additions, net of disposals and assets reclassified as held for sale	273	643
Acquisitions through business combinations	8,710	2,945
Foreign currency translation	205	(782)
Balance, end of period	22,454	12,059
Infrastructure \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	3,480	3,272
Dispositions and assets reclassified as held for sale	(453)	0
Fair value changes	715	472
Foreign currency translation	35	(264)
Balance, end of period	3,777	3,480
Infrastructure \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(1,889)	(1,622)
Depreciation expenses	(774)	(437)
Dispositions and assets reclassified as held for sale	232	38
Foreign currency translation	(28)	132
Balance, end of period	(2,459)	(1,889)
Utilities [Member] \| Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	4,808
Balance, end of period	4,958	4,808
Utilities [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	4,020	3,473
Additions, net of disposals and assets reclassified as held for sale	7	422
Acquisitions through business combinations	0	394
Foreign currency translation	138	(269)
Balance, end of period	4,186	4,020
Utilities [Member] \| Infrastructure \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	1,401	1,256
Dispositions and assets reclassified as held for sale	(416)	0
Fair value changes	347	218
Foreign currency translation	36	(73)
Balance, end of period	1,368	1,401
Utilities [Member] \| Infrastructure \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(613)	(509)
Depreciation expenses	(171)	(148)
Dispositions and assets reclassified as held for sale	204	5
Foreign currency translation	(16)	39
Balance, end of period	(596)	(613)
Transport \| Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	2,551
Balance, end of period	8,204	2,551
Transport \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	2,485	2,655
Additions, net of disposals and assets reclassified as held for sale	171	73
Acquisitions through business combinations	5,284	0
Foreign currency translation	9	(243)
Balance, end of period	8,305	2,485
Transport \| Infrastructure \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	810	873
Dispositions and assets reclassified as held for sale	0	0
Fair value changes	45	18
Foreign currency translation	(6)	(81)
Balance, end of period	849	810
Transport \| Infrastructure \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(744)	(687)
Depreciation expenses	(178)	(147)
Dispositions and assets reclassified as held for sale	(25)	22
Foreign currency translation	(3)	68
Balance, end of period	(950)	(744)
Energy [Member] \| Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	5,011
Balance, end of period	8,803	5,011
Energy [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	4,681	2,630
Additions, net of disposals and assets reclassified as held for sale	164	146
Acquisitions through business combinations	3,332	2,111
Foreign currency translation	69	(206)
Balance, end of period	8,443	4,681
Energy [Member] \| Infrastructure \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	822	629
Dispositions and assets reclassified as held for sale	0	0
Fair value changes	317	224
Foreign currency translation	5	(31)
Balance, end of period	1,144	822
Energy [Member] \| Infrastructure \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(492)	(383)
Depreciation expenses	(328)	(134)
Dispositions and assets reclassified as held for sale	46	7
Foreign currency translation	(10)	18
Balance, end of period	(784)	(492)
Data Infrastructure [Member] \| Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	444
Balance, end of period	1,043	444
Data Infrastructure [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	444	0
Additions, net of disposals and assets reclassified as held for sale	(44)	4
Acquisitions through business combinations	94	440
Foreign currency translation	4	0
Balance, end of period	1,131	444
Data Infrastructure [Member] \| Infrastructure \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	0	0
Dispositions and assets reclassified as held for sale	0	0
Fair value changes	0	0
Foreign currency translation	0	0
Balance, end of period	0	0
Data Infrastructure [Member] \| Infrastructure \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	0	0
Depreciation expenses	(87)	0
Dispositions and assets reclassified as held for sale	0	0
Foreign currency translation	(1)	0
Balance, end of period	(88)	0
Sustainable Resources [Member] \| Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	836
Balance, end of period	764	836
Sustainable Resources [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	429	495
Additions, net of disposals and assets reclassified as held for sale	(25)	(2)
Acquisitions through business combinations	0	0
Foreign currency translation	(15)	(64)
Balance, end of period	389	429
Sustainable Resources [Member] \| Infrastructure \| Accumulated fair value changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	447	514
Dispositions and assets reclassified as held for sale	(37)	0
Fair value changes	6	12
Foreign currency translation	0	(79)
Balance, end of period	416	447
Sustainable Resources [Member] \| Infrastructure \| Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(40)	(43)
Depreciation expenses	(10)	(8)
Dispositions and assets reclassified as held for sale	7	4
Foreign currency translation	2	7
Balance, end of period	(41)	(40)
Property, plant and equipment [member]
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	5,400
Property, plant and equipment [member] \| Infrastructure
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	2,200
Property, plant and equipment [member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	1,207	0
Property, plant and equipment [member] \| Utilities [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	21	0
Property, plant and equipment [member] \| Transport \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	356	0
Property, plant and equipment [member] \| Energy [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	197	0
Property, plant and equipment [member] \| Data Infrastructure [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	633	0
Property, plant and equipment [member] \| Sustainable Resources [Member] \| Infrastructure \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	$ 0	$ 0

PROPERTY, PLANT AND EQUIPMENT_8

PROPERTY, PLANT AND EQUIPMENT - Schedule of Real Estate Assets, Private Equity and Other (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	$ 67,294
Changes in basis of accounting	2,600
Balance, end of period	89,264	$ 67,294
Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	54,907
Balance, end of period	77,433	54,907
Accumulated Fair Value Changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	22,351
Balance, end of period	24,965	22,351
Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(9,964)
Balance, end of period	(13,134)	(9,964)
Real Estate
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	7,652	5,779
Additions, net of disposals and assets reclassified as held for sale	549	400
Acquisitions through business combinations	785	1,748
Foreign currency translation	94	(217)
Fair value changes	323	245
Depreciation expenses	(443)	(303)
Balance, end of period	9,729	7,652
Real Estate \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	7,713	5,854
Additions, net of disposals and assets reclassified as held for sale	514	352
Acquisitions through business combinations	785	1,748
Foreign currency translation	109	(241)
Fair value changes	0	0
Depreciation expenses	0	0
Balance, end of period	9,890	7,713
Real Estate \| Accumulated Fair Value Changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	1,045	798
Additions, net of disposals and assets reclassified as held for sale	(2)	5
Acquisitions through business combinations	0	0
Foreign currency translation	0	(3)
Fair value changes	323	245
Depreciation expenses	0	0
Balance, end of period	1,366	1,045
Real Estate \| Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(1,106)	(873)
Additions, net of disposals and assets reclassified as held for sale	37	43
Acquisitions through business combinations	0	0
Foreign currency translation	(15)	27
Fair value changes	0	0
Depreciation expenses	(443)	(303)
Balance, end of period	(1,527)	(1,106)
Private Equity and Other
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	7,121	2,733
Additions, net of disposals and assets reclassified as held for sale	809	433
Acquisitions through business combinations	6,650	4,915
Foreign currency translation	26	(205)
Depreciation expenses	(1,274)	(536)
Impairment charges	(196)	(219)
Balance, end of period	14,168	7,121
Private Equity and Other \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	9,027	4,050
Additions, net of disposals and assets reclassified as held for sale	477	360
Acquisitions through business combinations	6,650	4,915
Foreign currency translation	83	(298)
Depreciation expenses	0	0
Impairment charges	0	0
Balance, end of period	17,269	9,027
Private Equity and Other \| Accumulated Fair Value Changes
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(434)
Balance, end of period	(643)	(434)
Private Equity and Other \| Accumulated Impairment
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(434)	(231)
Additions, net of disposals and assets reclassified as held for sale	0	1
Acquisitions through business combinations	0	0
Foreign currency translation	(13)	15
Depreciation expenses	0	0
Impairment charges	(196)	(219)
Balance, end of period	(643)	(434)
Private Equity and Other \| Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Balance, beginning of period	(1,472)	(1,086)
Additions, net of disposals and assets reclassified as held for sale	332	72
Acquisitions through business combinations	0	0
Foreign currency translation	(44)	78
Depreciation expenses	(1,274)	(536)
Impairment charges	0	0
Balance, end of period	(2,458)	(1,472)
Property, plant and equipment [member]
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	5,400
Property, plant and equipment [member] \| Real Estate
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	769	0
Property, plant and equipment [member] \| Real Estate \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	769	0
Property, plant and equipment [member] \| Real Estate \| Accumulated Fair Value Changes
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	0	0
Property, plant and equipment [member] \| Real Estate \| Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	0	0
Property, plant and equipment [member] \| Private Equity and Other
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	1,032	0
Property, plant and equipment [member] \| Private Equity and Other \| Costs
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	1,032	0
Property, plant and equipment [member] \| Private Equity and Other \| Accumulated Impairment
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	0	0
Property, plant and equipment [member] \| Private Equity and Other \| Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Changes in basis of accounting	$ 0	$ 0

INTANGIBLE ASSETS - Schedule of

INTANGIBLE ASSETS - Schedule of Changes in Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	$ 18,762	$ 14,242
Additions1	445	288
Disposals, intangible assets other than goodwill	(367)	(6)
Acquisitions through business combinations	10,333	6,590
Amortization	(1,141)	(659)
Foreign currency translation	(322)	(1,693)
Ending balance	27,710	18,762
Costs
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	20,304	15,251
Additions1	445	288
Disposals, intangible assets other than goodwill	(499)	(22)
Acquisitions through business combinations		6,590
Amortization	0	0
Foreign currency translation	(351)	(1,803)
Ending balance	30,232	20,304
Accumulated Amortization and Impairment
Reconciliation of changes in intangible assets other than goodwill [abstract]
Beginning balance	(1,542)	(1,009)
Additions1	0	0
Disposals, intangible assets other than goodwill	132	16
Acquisitions through business combinations	0	0
Amortization	(1,141)	(659)
Foreign currency translation	29	110
Ending balance	$ (2,522)	$ (1,542)

INTANGIBLE ASSETS - Schedule _2

INTANGIBLE ASSETS - Schedule of Intangible Assets by Geography (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 27,710	$ 18,762	$ 14,242
Brazil
Disclosure of detailed information about intangible assets [line items]
Intangible assets	6,413	6,270
United States
Disclosure of detailed information about intangible assets [line items]
Intangible assets	6,826	2,986
Canada
Disclosure of detailed information about intangible assets [line items]
Intangible assets	2,263	2,051
MEXICO
Disclosure of detailed information about intangible assets [line items]
Intangible assets	1,200	0
Australia
Disclosure of detailed information about intangible assets [line items]
Intangible assets	1,985	1,873
United Kingdom
Disclosure of detailed information about intangible assets [line items]
Intangible assets	2,637	1,860
Brazil
Disclosure of detailed information about intangible assets [line items]
Intangible assets	2,090	144
Peru
Disclosure of detailed information about intangible assets [line items]
Intangible assets	1,161	1,118
Chile
Disclosure of detailed information about intangible assets [line items]
Intangible assets	814	928
India
Disclosure of detailed information about intangible assets [line items]
Intangible assets	1,045	843
Other
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 1,276	$ 689

INTANGIBLE ASSETS - Schedule _3

INTANGIBLE ASSETS - Schedule of Intangible Assets by Operating Segment (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 27,710	$ 18,762	$ 14,242
Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	14,388	11,641
Real Estate
Disclosure of detailed information about intangible assets [line items]
Intangible assets	1,301	1,179
Renewable power and other
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 371	$ 419

INTANGIBLE ASSETS - Narrative (

INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 27,710	$ 18,762	$ 14,242
Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	14,388	11,641
Intangible assets with indefinite useful life	667	653
Service concession arrangements [member] \| Private Equity
Disclosure of detailed information about intangible assets [line items]
Intangible assets	1,800	1,800
Service concession arrangements [member] \| Brazilian regulated gas transmission business [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	3,900	4,200
Service concession arrangements [member] \| Indian Toll Road [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	2,700	2,900
Access agreements [Member] \| Australian regulated terminal [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 1,800	1,800
Useful lives or amortisation rates, intangible assets other than goodwill	P49Y
Customer-related intangible assets [member] \| Private Equity
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 5,300	1,000
Useful lives or amortisation rates, intangible assets other than goodwill	30
Customer-related intangible assets [member] \| North American Rail Operations [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 2,000
Customer-related intangible assets [member] \| Residential infrastructure operation [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 1,400	1,400
Customer-related intangible assets [member] \| Bottom of range \| North American Rail Operations [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	P10Y
Customer-related intangible assets [member] \| Bottom of range \| Residential infrastructure operation [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	P10Y
Customer-related intangible assets [member] \| Top of range \| North American Rail Operations [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	P20Y
Customer-related intangible assets [member] \| Top of range \| Residential infrastructure operation [Member] \| Infrastructure
Disclosure of detailed information about intangible assets [line items]
Useful lives or amortisation rates, intangible assets other than goodwill	P20Y
Copyrights, patents and other industrial property rights, service and operating rights [member] \| Private Equity
Disclosure of detailed information about intangible assets [line items]
Intangible assets	$ 3,200	$ 2,100
Useful lives or amortisation rates, intangible assets other than goodwill	40
Useful Lives Or Amortisation Rates, Intangible Assets Other Than Goodwill, Period	20 years

GOODWILL - Schedule of Changes

GOODWILL - Schedule of Changes in Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of changes in goodwill [abstract]
Beginning balance	$ 8,815	$ 5,317
Acquisitions through business combinations	6,125	4,158
Impairment losses	(453)	0
Foreign currency translation and other	63	(660)
Ending balance	14,550	8,815
Costs
Reconciliation of changes in goodwill [abstract]
Beginning balance	9,198	5,707
Acquisitions through business combinations	6,125	4,158
Impairment losses	0	0
Foreign currency translation and other	89	(667)
Ending balance	15,412	9,198
Accumulated Impairment
Reconciliation of changes in goodwill [abstract]
Beginning balance	(383)	(390)
Acquisitions through business combinations	0	0
Impairment losses	(453)	0
Foreign currency translation and other	(26)	7
Ending balance	$ (862)	$ (383)

GOODWILL - Schedule of Goodwill

GOODWILL - Schedule of Goodwill By Geography (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 14,550	$ 8,815	$ 5,317
Europe
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	3,949	2,131
United States
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	2,843	1,306
Australia
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	2,293	876
Canada
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	2,169	1,923
Colombia
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	1,428	1,384
Brazil
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	862	762
Other
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 1,006	$ 433

GOODWILL - Schedule of Goodwi_2

GOODWILL - Schedule of Goodwill By Operating Segments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 14,550	$ 8,815	$ 5,317
Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	6,553	3,859
Private Equity
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	5,218	2,411
Real Estate
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	1,357	1,157
Renewable Power
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	977	941
Asset management
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	328	328
Other
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 117	$ 119

GOODWILL - Narrative (Details)

GOODWILL - Narrative (Details) $ in Millions	12 Months Ended
GOODWILL - Narrative (Details) $ in Millions	Dec. 31, 2019USD ($)year	Dec. 31, 2018USD ($)year	Dec. 30, 2019USD ($)	Oct. 16, 2018USD ($)	Dec. 31, 2017USD ($)
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 14,550	$ 8,815			$ 5,317
Impairment loss recognised in profit or loss, goodwill	$ 453	$ 0
Terminal Year \| year	2,034	2,033
Acquisitions through business combinations	$ 6,125	$ 4,158
Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	6,553	3,859
Private Equity
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	5,218	$ 2,411
Impairment loss recognised in profit or loss, goodwill	$ 417
Terminal growth rate	1.50%	2.80%
Discount rate used in current estimate of value in use	9.40%	10.00%
Real Estate
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 1,357	$ 1,157
Growth rate used to extrapolate cash flow projections		2.00%
Colombian natural gas distribution [Member] \| Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	542
North American Data Center [Member] \| Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	486
Genesee and Wyoming [Member] \| Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill			$ 2,000
North River Federal Assets [Member] \| Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	218
Wireless Infrastructure Group [Member] \| Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	301
Evoque [Member] \| Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill		$ 463
Healthscope \| Private Equity
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	1,548
Clarios \| Private Equity
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	1,894
Brazilian regulated gas transmission business [Member] \| Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	632
Enercare [Member] \| Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	$ 1,300			$ 1,260
Center Parcs [Member] \| Real Estate
Disclosure of reconciliation of changes in goodwill [line items]
Discount rate used in current estimate of value in use	7.90%	7.40%
Growth rate used to extrapolate cash flow projections	2.00%
IFC Seoul \| Real Estate
Disclosure of reconciliation of changes in goodwill [line items]
Discount rate used in current estimate of value in use	7.50%	7.70%
Growth rate used to extrapolate cash flow projections	2.80%
Bottom of range [member] \| Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Terminal capitalization multiples	8
Terminal year of cash flow	7 years
Discount rate used in current estimate of value in use	12.00%
Top of range [member] \| Infrastructure
Disclosure of reconciliation of changes in goodwill [line items]
Terminal capitalization multiples	12
Terminal year of cash flow	20 years
Discount rate used in current estimate of value in use	14.00%

INCOME TAXES - Components Of In

INCOME TAXES - Components Of Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Current income tax expense	$ 970	$ 861
Deferred income tax expense / (recovery)
Origination and reversal of temporary differences	281	143
Expense arising from previously unrecognized tax assets	(647)	(955)
Change of tax rates and new legislation	(109)	(297)
Total deferred income tax recovery	(475)	(1,109)
Income tax expense (recovery)	$ 495	$ (248)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Billions	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Billions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deductible temporary differences for which no deferred tax liabilities is recognised	$ 5	$ 6
Domestic Tax Authority
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Statutory income tax rate	26.00%	26.00%

INCOME TAXES - Schedule Of Inco

INCOME TAXES - Schedule Of Income Tax Rates (Details)	12 Months Ended
INCOME TAXES - Schedule Of Income Tax Rates (Details)	Dec. 31, 2019	Dec. 31, 2018
Increase (reduction) in rate resulting from:
Change in tax rates and new legislation	(2.00%)	(4.00%)
International operations subject to different tax rates	(7.00%)	(3.00%)
Taxable income attributable to non-controlling interests	(4.00%)	(8.00%)
Portion of gains subject to different tax rates	(1.00%)	(4.00%)
Recognition of deferred tax assets	(9.00%)	(12.00%)
Non-recognition of the benefit of current year’s tax losses	4.00%	1.00%
Other	1.00%	1.00%
Effective income tax rate	8.00%	(3.00%)
Domestic Tax Authority
Increase (reduction) in rate resulting from:
Statutory income tax rate	26.00%	26.00%

INCOME TAXES - Schedule Of Defe

INCOME TAXES - Schedule Of Deferred Income Tax Assets And Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Total net deferred tax liabilities	$ (11,277)	$ (9,504)
Non-capital losses [Member] \| Canada
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Total net deferred tax liabilities	848	685
Capital losses [Member] \| Canada
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Total net deferred tax liabilities	80	108
Unused tax losses [member] \| United States
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Total net deferred tax liabilities	3,102	2,219
Unused tax losses [member] \| International
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Total net deferred tax liabilities	705	645
Temporary differences [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Total net deferred tax liabilities	$ (16,012)	$ (13,161)

INCOME TAXES - Schedule Of Unre

INCOME TAXES - Schedule Of Unrecognized Deferred Tax Assets (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	$ 2,836	$ 2,669
One year from reporting date
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	22	16
Two years from reporting date
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	9	0
Three years from reporting date
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	14	2
After three years from reporting date
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	1,159	1,125
Do not expire
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred tax assets	$ 1,632	$ 1,526

INCOME TAXES - Schedule Of Comp

INCOME TAXES - Schedule Of Components Of Income Taxes In Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Abstract]
Revaluation of property, plant and equipment	$ 623	$ 1,302
Financial contracts and power sale agreements	6	26
Income tax relating to marketable securities measured at fair value through other comprehensive income	88	10
Foreign currency translation	(8)	69
Revaluation of pension obligation	(6)	7
Total deferred tax in other comprehensive income	$ 703	$ 1,414

CORPORATE BORROWINGS - Schedule

CORPORATE BORROWINGS - Schedule of Corporate Borrowings (Details) $ in Millions, $ in Millions	Dec. 31, 2019USD ($)	Dec. 31, 2019CAD ($)	Dec. 31, 2018USD ($)
Disclosure of detailed information about borrowings [line items]
Book value of borrowings	$ 7,128		$ 6,450
Deferred financing costs	(45)		(41)
Total	$ 7,083		6,409
Canadian Term Debt Maturing On April 9, 2017 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	3.95%	3.95%
Book value of borrowings	$ 0		440
Canadian Term Debt Maturing On March 1, 2021 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	5.30%	5.30%
Book value of borrowings	$ 269	$ 350	257
Canadian Term Debt Maturing On March 31, 2023 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.54%	4.54%
Book value of borrowings	$ 463		441
Canadian Term Debt Maturing On March 8, 2024 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	5.04%	5.04%
Book value of borrowings	$ 385		367
U.S. Term Debt Maturing On April 01, 2024 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.00%	4.00%
Book value of borrowings	$ 749		749
U.S. Term Debt Maturing On January 15, 2025 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.00%	4.00%
Book value of borrowings	$ 500		500
Canadian Term Debt Maturing On January 28, 2026 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.82%	4.82%
Book value of borrowings	$ 664		633
U.S. Term Debt Maturing On June 2, 2026 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.25%	4.25%
Book value of borrowings	$ 497		496
Canadian Term Debt Maturing On March 16, 2027 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	3.80%	3.80%
Book value of borrowings	$ 385		366
Canadian Term Debt Maturing On January 25, 2028 [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	3.90%	3.90%
Book value of borrowings	$ 649		648
U.S. Term Debt Maturing On March 29, 2029 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.85%	4.85%
Book value of borrowings	$ 998		0
U.S. Term Debt Maturing On March 1, 2033 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	7.38%	7.38%
Book value of borrowings	$ 250		250
Canadian Term Debt Maturing On June 14, 2035 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	5.95%	5.95%
Book value of borrowings	$ 325		309
JPY Term Debt Maturing On December 1, 2038 [Member]
Disclosure of detailed information about borrowings [line items]
Annual Rate	1.42%	1.42%
Book value of borrowings	$ 92		91
Mar. 1, 2033
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.70%	4.70%
Book value of borrowings	$ 902		$ 903

CORPORATE BORROWINGS - Narrativ

CORPORATE BORROWINGS - Narrative (Details) $ in Millions, $ in Millions, ¥ in Billions	Dec. 31, 2019USD ($)	Dec. 31, 2019JPY (¥)	Dec. 31, 2019CAD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018JPY (¥)	Dec. 31, 2018CAD ($)
Disclosure of detailed information about borrowings [line items]
Corporate borrowings	$ 7,083			$ 6,409
Fixed rate \| Weighted average
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.60%	4.60%	4.60%	4.50%	4.50%	4.50%
U.S. dollars \| Japanese yen
Disclosure of detailed information about borrowings [line items]
Corporate borrowings			$ 92			$ 91
U.S. dollars \| Canadian dollars
Disclosure of detailed information about borrowings [line items]
Corporate borrowings	$ 2,500			$ 2,800
Canadian dollars \| Canadian dollars
Disclosure of detailed information about borrowings [line items]
Corporate borrowings			$ 3,200			$ 3,800
Japanese yen \| Japanese yen
Disclosure of detailed information about borrowings [line items]
Corporate borrowings \| ¥		¥ 10			¥ 10

ACCOUNTS PAYABLE AND OTHER - Sc

ACCOUNTS PAYABLE AND OTHER - Schedule of Accounts Payable and Other Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Subclassifications of assets, liabilities and equities [abstract]
Accounts payable	$ 9,583		$ 6,873
Provisions	4,104		2,830
Insurance contracts that are liabilities	5,494		0
Other liabilities	23,896		14,286
Accounts payable and other	$ 43,077	$ 43,077	$ 23,989

ACCOUNTS PAYABLE AND OTHER - _2

ACCOUNTS PAYABLE AND OTHER - Schedule of Current and Non-Current Accounts Payables (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Subclassifications of assets, liabilities and equities [abstract]
Current	$ 23,212		$ 14,337
Non-current	19,865		9,652
Accounts payable and other	$ 43,077	$ 43,077	$ 23,989

ACCOUNTS PAYABLE AND OTHER - Na

ACCOUNTS PAYABLE AND OTHER - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Increase (decrease) in net defined benefit liability (asset)	$ 19
Actuarial assumption of discount rates	2.00%	3.00%
Percentage increase in rate of compensation	2.00%	2.00%
Actuarial assumption of expected rates of return on pension assets	3.00%	6.00%

ACCOUNTS PAYABLE AND OTHER - _3

ACCOUNTS PAYABLE AND OTHER - Schedule of Post-Employment Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Subclassifications of assets, liabilities and equities [abstract]
Plan assets	$ 3,029	$ 1,981
Less accrued benefit obligation:
Defined benefit pension plan	3,995	2,548
Other post-employment benefits	(173)	(148)
Net defined benefit liability, before net actuarial gain (losses)	1,139	715
Less: net actuarial gains (losses) and other	13	(10)
Accrued benefit liability related to defined benefit plan	$ (1,126)	$ (725)

NON-RECOURSE BORROWINGS - Sched

NON-RECOURSE BORROWINGS - Schedule of Repayments of Property Specific Mortgages (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	$ 127,869	$ 103,209
Deferred Financing Costs and Other on Secured bank loans	(1,231)
Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	67,909	63,494
Deferred Financing Costs and Other on Secured bank loans	(544)
Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	15,787	14,233
Deferred Financing Costs and Other on Secured bank loans	(25)
Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	20,776	14,334
Deferred Financing Costs and Other on Secured bank loans	(135)
Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	23,105	10,820
Deferred Financing Costs and Other on Secured bank loans	(522)
Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	292	$ 328
Deferred Financing Costs and Other on Secured bank loans	(5)
One year from reporting date
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	15,696
One year from reporting date \| Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	9,871
One year from reporting date \| Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,556
One year from reporting date \| Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	2,740
One year from reporting date \| Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,438
One year from reporting date \| Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	91
Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	14,819
Two years from reporting date \| Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	11,796
Two years from reporting date \| Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,073
Two years from reporting date \| Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,044
Two years from reporting date \| Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	868
Two years from reporting date \| Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	38
2021
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	12,165
2021 \| Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	7,784
2021 \| Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,168
2021 \| Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,707
2021 \| Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,487
2021 \| Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	19
2022
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	13,266
2022 \| Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	6,876
2022 \| Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,841
2022 \| Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	3,012
2022 \| Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	1,524
2022 \| Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	13
2023
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	18,104
2023 \| Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	11,181
2023 \| Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	797
2023 \| Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	3,043
2023 \| Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	2,947
2023 \| Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	136
Thereafter
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	55,050
Total Principal repayments on Secured bank loans	129,100
Thereafter \| Real Estate
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	20,945
Total Principal repayments on Secured bank loans	68,453
Thereafter \| Renewable Power
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	9,377
Total Principal repayments on Secured bank loans	15,812
Thereafter \| Infrastructure
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	9,365
Total Principal repayments on Secured bank loans	20,911
Thereafter \| Private Equity
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	15,363
Total Principal repayments on Secured bank loans	23,627
Thereafter \| Residential Development
Disclosure of detailed information about borrowings [line items]
Property-specific borrowings	0
Total Principal repayments on Secured bank loans	$ 297

NON-RECOURSE BORROWINGS - Narra

NON-RECOURSE BORROWINGS - Narrative (Details) - Weighted average	Dec. 31, 2019	Dec. 31, 2018
Property-specific borrowings
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.70%	5.00%
Subsidiary borrowings
Disclosure of detailed information about borrowings [line items]
Annual Rate	4.30%	4.50%

NON-RECOURSE BORROWINGS - Sch_2

NON-RECOURSE BORROWINGS - Schedule of Current and Non-current property specific mortgages (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of financial liabilities [abstract]
Current	$ 15,696	$ 10,764
Non-current	112,173	92,445
Total	$ 127,869	$ 103,209

NON-RECOURSE BORROWINGS - Sch_3

NON-RECOURSE BORROWINGS - Schedule of Borrowings By Currency (Details) € in Millions, ₩ in Millions, ₨ in Millions, £ in Millions, R$ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions,
in Millions

Dec. 31, 2019USD ($)

Dec. 31, 2019BRL (R$)

Dec. 31, 2019EUR (€)

Dec. 31, 2019COP ($)

Dec. 31, 2019CLF (
)

Dec. 31, 2019INR (₨)

Dec. 31, 2019CAD ($)

Dec. 31, 2019KRW (₩)

Dec. 31, 2019GBP (£)

Dec. 31, 2019AUD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2018BRL (R$)

Dec. 31, 2018EUR (€)

Dec. 31, 2018COP ($)

Dec. 31, 2018CLF (
)

Dec. 31, 2018INR (₨)

Dec. 31, 2018CAD ($)

Dec. 31, 2018KRW (₩)

Dec. 31, 2018GBP (£)

Dec. 31, 2018AUD ($)

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

$ 127,869

$ 103,209

U.S. dollars

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

84,203

72,747

British pounds

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

9,812

£ 7,401

7,200

£ 5,643

Canadian dollars

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

7,955

$ 10,333

6,285

$ 8,573

Australian dollars

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

4,815

$ 6,861

2,968

$ 4,210

Brazilian reais

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

3,969

R$ 15998

3,825

R$ 14820

Korean won

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

1,959

₩ 2,264,478

1,613

₩ 1,797,415

Colombian pesos

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

2,029

$ 6,671,818

1,855

$ 6,025,270

Indian rupees

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

4,143

₨ 295,106

2,026

₨ 140,694

Chilean unidades de fomento

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

1,099

837

Other

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

1,041

589

European Union euros

Disclosure of detailed information about borrowings [line items]

Property-specific borrowings

$ 6,844

€ 6,103

$ 3,264

€ 2,846

NON-RECOURSE BORROWINGS - Sch_4

NON-RECOURSE BORROWINGS - Schedule of Repayments on Subsidiary Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	$ 8,423	$ 8,600
Deferred Financing Costs and Other on Subsidiary Borrowings	(31)
Less than 1 year
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	17
Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	479
2021
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	1,196
2022
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	535
2023
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	3,009
Thereafter
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	3,218
Total Principal repayments on Subsidiary Borrowings	8,454
Real Estate
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	2,024	2,504
Deferred Financing Costs and Other on Subsidiary Borrowings	(21)
Real Estate \| Less than 1 year
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Real Estate \| Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	443
Real Estate \| 2021
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Real Estate \| 2022
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	308
Real Estate \| 2023
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	1,294
Real Estate \| Thereafter
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Total Principal repayments on Subsidiary Borrowings	2,045
Renewable Power
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	2,098	2,328
Deferred Financing Costs and Other on Subsidiary Borrowings	(10)
Renewable Power \| Less than 1 year
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Renewable Power \| Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Renewable Power \| 2021
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	308
Renewable Power \| 2022
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Renewable Power \| 2023
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	299
Renewable Power \| Thereafter
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	1,501
Total Principal repayments on Subsidiary Borrowings	2,108
Infrastructure
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	2,470	1,993
Deferred Financing Costs and Other on Subsidiary Borrowings	(4)
Infrastructure \| Less than 1 year
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Infrastructure \| Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Infrastructure \| 2021
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	347
Infrastructure \| 2022
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Infrastructure \| 2023
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	1,359
Infrastructure \| Thereafter
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	768
Total Principal repayments on Subsidiary Borrowings	2,474
Private Equity
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0	52
Deferred Financing Costs and Other on Subsidiary Borrowings	0
Private Equity \| Less than 1 year
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Private Equity \| Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Private Equity \| 2021
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Private Equity \| 2022
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Private Equity \| 2023
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Private Equity \| Thereafter
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	0
Total Principal repayments on Subsidiary Borrowings	0
Residential Development
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	1,831	$ 1,723
Deferred Financing Costs and Other on Subsidiary Borrowings	4
Residential Development \| Less than 1 year
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	17
Residential Development \| Two years from reporting date
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	36
Residential Development \| 2021
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	541
Residential Development \| 2022
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	227
Residential Development \| 2023
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	57
Residential Development \| Thereafter
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	949
Total Principal repayments on Subsidiary Borrowings	$ 1,827

NON-RECOURSE BORROWINGS - Sch_5

NON-RECOURSE BORROWINGS - Schedule of Current and Non-current Subsidiary Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	$ 8,423	$ 8,600
Current [member]
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	17	395
Non-Current [Member]
Disclosure of detailed information about borrowings [line items]
Subsidiary borrowings	$ 8,406	$ 8,205

NON-RECOURSE BORROWINGS - Sch_6

NON-RECOURSE BORROWINGS - Schedule of Subsidiary Borrowings By Currency (Details) R$ in Millions, $ in Millions, $ in Millions, $ in Millions	Dec. 31, 2019USD ($)	Dec. 31, 2019BRL (R$)	Dec. 31, 2019CAD ($)	Dec. 31, 2019AUD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018CAD ($)	Dec. 31, 2018AUD ($)
Disclosure of detailed information about borrowings [line items]
Subsidiary Borrowings	$ 8,423				$ 8,600
U.S. dollars
Disclosure of detailed information about borrowings [line items]
Subsidiary Borrowings	5,162				6,846
Canadian dollars
Disclosure of detailed information about borrowings [line items]
Subsidiary Borrowings	3,078		$ 3,998		1,613	$ 2,200
Brazil, Brazil Real
Disclosure of detailed information about borrowings [line items]
Subsidiary Borrowings	183	R$ 737			0
Australian dollars
Disclosure of detailed information about borrowings [line items]
Subsidiary Borrowings	$ 0			$ 0	$ 141		$ 200

NON-RECOURSE BORROWINGS NON REC

NON-RECOURSE BORROWINGS NON RECOURSE BORROWINGS - Schedule of Non-recourse borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Subsidiary Borrowings	$ 8,423	$ 8,600
Property-specific borrowings	127,869	103,209
Non-recourse borrowings of managed entities	$ 136,292	$ 111,809

SUBSIDIARY EQUITY OBLIGATIONS -

SUBSIDIARY EQUITY OBLIGATIONS - Schedule of Subsidiary Equity Obligations (Details) $ in Millions, $ in Millions	Dec. 31, 2019USD ($)shares	Dec. 31, 2019CAD ($)shares	Dec. 31, 2018USD ($)	Dec. 31, 2018CAD ($)
Disclosure of financial liabilities [line items]
Subsidiary preferred equity units	$ 1,650		$ 1,622
Limited-life funds and redeemable fund units	1,896		1,724
Total	4,132		3,876
Preferred equity held by third party investor in Rouse Properties L.P.
Disclosure of financial liabilities [line items]
Subsidiary preferred shares and capital	$ 142		142
Series 1
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	24,000,000	24,000,000
Cumulative Dividend Rate	6.25%	6.25%
Subsidiary preferred equity units	$ 574		562
Series 2
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	24,000,000	24,000,000
Cumulative Dividend Rate	6.50%	6.50%
Subsidiary preferred equity units	$ 546		537
Series 3
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	24,000,000	24,000,000
Cumulative Dividend Rate	6.75%	6.75%
Subsidiary preferred equity units	$ 530		523
Real Estate
Disclosure of financial liabilities [line items]
Limited-life funds and redeemable fund units	921		813
Subsidiary preferred shares and capital	$ 586		530
Real Estate \| BSREP II RH B LLC (“Manufactured Housing”) preferred capital
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	0	0
Cumulative Dividend Rate	9.00%	9.00%
Subsidiary preferred shares and capital	$ 249		249
Real Estate \| Preferred equity held by third party investor in Rouse Properties L.P.
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	5,600,000	5,600,000
Cumulative Dividend Rate	5.00%	5.00%
Subsidiary preferred shares and capital	$ 142		142
Real Estate \| Preferred equity held by third party investor in Forest City Enterprises L.P. [Member]
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	10,000	10,000
Cumulative Dividend Rate	5.00%	5.00%
Subsidiary preferred shares and capital	$ 40		40
Real Estate \| Preferred equity held by third party investor in BSREP II Vintage Estate Partners LLC
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	387,079	387,079
Cumulative Dividend Rate	2.00%	2.00%
Subsidiary preferred shares and capital	$ 10		29
Real Estate \| Series 1 \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	924,390	924,390
Cumulative Dividend Rate	5.25%	5.25%
Subsidiary preferred shares and capital	$ 23		$ 23
Real Estate \| Series 2 \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	699,165	699,165
Cumulative Dividend Rate	5.75%	5.75%
Subsidiary preferred shares and capital		$ 13		$ 13
Real Estate \| Series 3 \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	909,814	909,814
Cumulative Dividend Rate	5.00%	5.00%
Subsidiary preferred shares and capital		$ 18		17
Real Estate \| Series 4 \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares
Disclosure of financial liabilities [line items]
Issued and Outstanding (in shares) \| shares	940,486	940,486
Cumulative Dividend Rate	5.20%	5.20%
Subsidiary preferred shares and capital		$ 18		$ 17

SUBSIDIARY EQUITY OBLIGATIONS_2

SUBSIDIARY EQUITY OBLIGATIONS - Narrative (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2014USD ($)tranche$ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units		$ 1,650	$ 1,622
Limited-Life Funds and Redeemable Fund Units		1,896	$ 1,724
Brookfield Property Partners L.P. (“BPY”)
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units	$ 1,800	$ 1,800
Number of tranches \| tranche	3
Exchangeable price of BPY preferred units issued to QIA \| $ / shares		$ 25.70	$ 25.70
2021 \| Brookfield Property Partners L.P. (“BPY”)
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units	$ 600	$ 600
2024 \| Brookfield Property Partners L.P. (“BPY”)
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units	$ 600
Exchangeable price of BPY preferred units issued to QIA \| $ / shares	$ 600,000,000
2026 \| Brookfield Property Partners L.P. (“BPY”)
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units	$ 600
Exchangeable price of BPY preferred units issued to QIA \| $ / shares	$ 600,000,000
Preferred equity held by third party investor in Manufactured Housing
Disclosure of subsidiaries [line items]
Subsidiary preferred shares and capital		249	$ 249
Preferred equity held by third party investor in Rouse Properties L.P.
Disclosure of subsidiaries [line items]
Subsidiary preferred shares and capital		142	142
Real Estate
Disclosure of subsidiaries [line items]
Limited-Life Funds and Redeemable Fund Units		921	813
Subsidiary preferred shares and capital		586	530
Real Estate \| Preferred equity held by third party investor in Rouse Properties L.P.
Disclosure of subsidiaries [line items]
Subsidiary preferred shares and capital		142	142
Real Estate \| Preferred equity held by third party investor in BSREP II Vintage Estate Partners LLC
Disclosure of subsidiaries [line items]
Subsidiary preferred shares and capital		10	29
Infrastructure
Disclosure of subsidiaries [line items]
Limited-Life Funds and Redeemable Fund Units		934	826
Corporate Activities
Disclosure of subsidiaries [line items]
Limited-Life Funds and Redeemable Fund Units		$ 41	$ 85

SUBSIDIARY EQUITY OBLIGATIONS_3

SUBSIDIARY EQUITY OBLIGATIONS - Schedule of Preferred Equity Units (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2014
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units	$ 1,650	$ 1,622
Series 1
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares)	24,000,000
Cumulative Dividend Rate	6.25%
Subsidiary preferred equity units	$ 574	562
Series 2
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares)	24,000,000
Cumulative Dividend Rate	6.50%
Subsidiary preferred equity units	$ 546	537
Series 3
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares)	24,000,000
Cumulative Dividend Rate	6.75%
Subsidiary preferred equity units	$ 530	$ 523
Brookfield Property Partners L.P. (“BPY”)
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units	$ 1,800		$ 1,800

SUBSIDIARY EQUITY OBLIGATIONS_4

SUBSIDIARY EQUITY OBLIGATIONS - Schedule of Subsidiary Preferred Shares (Details) $ in Millions, $ in Millions	Dec. 31, 2019USD ($)shares	Dec. 31, 2019CAD ($)shares	Dec. 31, 2018USD ($)	Dec. 31, 2018CAD ($)
Disclosure of subsidiaries [line items]
Subsidiary preferred equity units	$ 1,650		$ 1,622
Series 1
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	24,000,000	24,000,000
Cumulative Dividend Rate	6.25%	6.25%
Subsidiary preferred equity units	$ 574		562
Series 2
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	24,000,000	24,000,000
Cumulative Dividend Rate	6.50%	6.50%
Subsidiary preferred equity units	$ 546		537
Series 3
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	24,000,000	24,000,000
Cumulative Dividend Rate	6.75%	6.75%
Subsidiary preferred equity units	$ 530		523
Rouse Series A preferred shares
Disclosure of subsidiaries [line items]
Subsidiary Preferred Shares	142		142
Real Estate
Disclosure of subsidiaries [line items]
Subsidiary Preferred Shares	$ 586		530
Real Estate \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares \| Series 1
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	924,390	924,390
Cumulative Dividend Rate	5.25%	5.25%
Subsidiary Preferred Shares	$ 23		23
Real Estate \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares \| Series 2
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	699,165	699,165
Cumulative Dividend Rate	5.75%	5.75%
Subsidiary Preferred Shares		$ 13		$ 13
Real Estate \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares \| Series 3
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	909,814	909,814
Cumulative Dividend Rate	5.00%	5.00%
Subsidiary Preferred Shares		$ 18		17
Real Estate \| Brookfield Property Split Corp (“BOP Split”) senior preferred shares \| Series 4
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	940,486	940,486
Cumulative Dividend Rate	5.20%	5.20%
Subsidiary Preferred Shares		$ 18		$ 17
Real Estate \| BSREP II RH B LLC (“Manufactured Housing”) preferred capital
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	0	0
Cumulative Dividend Rate	9.00%	9.00%
Subsidiary Preferred Shares	$ 249		249
Real Estate \| Rouse Series A preferred shares
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	5,600,000	5,600,000
Cumulative Dividend Rate	5.00%	5.00%
Subsidiary Preferred Shares	$ 142		142
Real Estate \| Preferred equity held by third party investor in Forest City Enterprises L.P. [Member]
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	10,000	10,000
Cumulative Dividend Rate	5.00%	5.00%
Subsidiary Preferred Shares	$ 40		40
Real Estate \| BSREP II Vintage Estate Partners LLC (“Vintage Estates”) preferred shares
Disclosure of subsidiaries [line items]
Issued and Outstanding (in shares) \| shares	387,079	387,079
Cumulative Dividend Rate	2.00%	2.00%
Subsidiary Preferred Shares	$ 10		$ 29

SUBSIDIARY PUBLIC ISSUERS AND_3

SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY - Narrative (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Feb. 18, 2020	Dec. 31, 2019CAD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Jan. 17, 2018USD ($)	Sep. 14, 2017USD ($)	Mar. 10, 2017USD ($)	Jun. 02, 2016USD ($)
Disclosure of subsidiaries [line items]
Corporate borrowings	$ 7,083				$ 6,409
Issued capital	$ 43,077			$ 43,077	$ 23,989
BFI
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
BFL
Disclosure of subsidiaries [line items]
Proportion of voting rights held in subsidiary	100.00%
Unsecured Notes Due 2026 \| BFI
Disclosure of subsidiaries [line items]
Corporate borrowings									$ 500
Annual Rate									4.25%
Unsecured Notes Due 2047 [Member] \| BFI
Disclosure of subsidiaries [line items]
Corporate borrowings						$ 350	$ 550
Annual Rate						4.70%	4.70%
Unsecured Notes Due 2028 [Member] \| BFI
Disclosure of subsidiaries [line items]
Corporate borrowings						$ 650
Annual Rate						3.90%
Unsecured Notes Due 2029 [Member] \| BFI
Disclosure of subsidiaries [line items]
Corporate borrowings						$ 1,000
Annual Rate						4.85%
Unsecured Notes Due 2024 \| BFL
Disclosure of subsidiaries [line items]
Corporate borrowings								$ 750
Annual Rate								4.00%
Unsecured Notes Due 2050 [Member] \| BFI
Disclosure of subsidiaries [line items]
Annual Rate		3.50%
Unsecured Notes Due 2050 [Member] \| BFL
Disclosure of subsidiaries [line items]
Annual Rate		60000000000.00%
Preferred shares \| BIC
Disclosure of subsidiaries [line items]
Issued capital			$ 42

SUBSIDIARY PUBLIC ISSUERS AND_4

SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY - Schedule Of Summarized Financial Information And Non-Guarantor Subsidiaries (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of subsidiaries [line items]
Revenue	$ 67,826	$ 56,771
Net income attributable to shareholders	2,807	3,584
Total assets	323,969	256,281
Total liabilities	207,123	159,131
The Corporation
Disclosure of subsidiaries [line items]
Revenue	104	810
Net income attributable to shareholders	2,807	3,584
Total assets	70,976	59,105
Total liabilities	35,963	29,290
BFI
Disclosure of subsidiaries [line items]
Revenue	148	43
Net income attributable to shareholders	40	(46)
Total assets	5,389	4,330
Total liabilities	3,994	2,909
BFL
Disclosure of subsidiaries [line items]
Revenue	0	53
Net income attributable to shareholders	0	(1)
Total assets	0	13
Total liabilities	0	6
BIC
Disclosure of subsidiaries [line items]
Revenue	105	163
Net income attributable to shareholders	85	145
Total assets	3,520	3,296
Total liabilities	2,239	2,198
Subsidiaries of the Corporation other than BFI, BFL and BIC
Disclosure of subsidiaries [line items]
Revenue	73,310	62,984
Net income attributable to shareholders	3,493	4,506
Total assets	331,698	271,534
Total liabilities	195,586	154,458
Elimination of intersegment amounts
Disclosure of subsidiaries [line items]
Revenue	(5,841)	(7,282)
Net income attributable to shareholders	(3,618)	(4,604)
Total assets	(87,614)	(81,997)
Total liabilities	$ (30,659)	$ (29,730)

EQUITY - Schedule Of Equity (De

EQUITY - Schedule Of Equity (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of classes of share capital [line items]
Total Equity	$ 116,846	$ 97,150
Common equity \| Common shares
Disclosure of classes of share capital [line items]
Total Equity	30,868	25,647
Preferred equity \| Preferred shares
Disclosure of classes of share capital [line items]
Total Equity	4,145	4,168
Non-controlling interests
Disclosure of classes of share capital [line items]
Total Equity	81,833	67,335
Non-controlling interests \| Preferred shares
Disclosure of classes of share capital [line items]
Total Equity	5,276	5,226
Non-controlling interests \| Common shares
Disclosure of classes of share capital [line items]
Total Equity	$ 76,557	$ 62,109

EQUITY - Schedule Of Preferred

EQUITY - Schedule Of Preferred Equity (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of classes of share capital [line items]
Equity	$ 116,846	$ 97,150
Weighted average \| Preferred shares
Disclosure of classes of share capital [line items]
Average Rate	4.20%	4.19%
Floating rate \| Weighted average \| Preferred shares
Disclosure of classes of share capital [line items]
Average Rate	2.91%	2.90%
Fixed rate \| Weighted average \| Preferred shares
Disclosure of classes of share capital [line items]
Average Rate	4.82%	4.82%
Fixed and floating rate [Member] \| Weighted average \| Preferred shares
Disclosure of classes of share capital [line items]
Average Rate	4.02%	4.02%
Fixed rate-reset preferred shares \| Weighted average \| Preferred shares
Disclosure of classes of share capital [line items]
Average Rate	4.28%	4.26%
Preferred equity \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 4,145	$ 4,168
Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	531	531
Preferred equity \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	739	744
Preferred equity \| Fixed and floating rate [Member] \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	1,270	1,275
Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 2,875	$ 2,893

EQUITY - Schedule Of Series Of

EQUITY - Schedule Of Series Of Preferred Shares (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of classes of share capital [line items]
Equity	$ 116,846	$ 97,150
Fixed rate-reset preferred shares \| Canada Bond Rate \| Preferred shares
Disclosure of classes of share capital [line items]
Period of government bond rate	5 years
Fixed rate-reset preferred shares \| Bottom of range \| Preferred shares
Disclosure of classes of share capital [line items]
Period of fixed dividend rate	5 years
Fixed rate-reset preferred shares \| Bottom of range \| Canada Bond Rate \| Preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, basis spread on variable rate	18000.00%
Fixed rate-reset preferred shares \| Top of range \| Preferred shares
Disclosure of classes of share capital [line items]
Period of fixed dividend rate	6 years
Fixed rate-reset preferred shares \| Top of range \| Canada Bond Rate \| Preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, basis spread on variable rate	41700.00%
Preferred equity \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 4,145	4,168
Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	531	531
Preferred equity \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	739	744
Preferred equity \| Fixed and floating rate [Member] \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	1,270	1,275
Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 2,875	$ 2,893
Series 48 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.75%
Series 48 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	11,885,972	11,961,701
Series 48 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 244	$ 245
Series 46 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.80%
Series 46 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	11,740,797	11,810,653
Series 46 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 217	$ 219
Series 44 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	5.00%
Series 44 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,831,929	9,882,879
Series 44 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 187	$ 188
Series 42 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.50%
Series 42 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	11,887,500	11,943,400
Series 42 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 266	$ 268
Series 40 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.03%
Series 40 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	11,841,025	11,914,515
Series 40 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 271	$ 273
Series 38 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.40%
Series 38 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	7,906,132	7,955,948
Series 38 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 179	$ 180
Series 34 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.44%
Series 34 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,876,735	9,926,620
Series 34 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 253	$ 254
Series 32 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	5.06%
Series 32 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	11,750,299	11,849,808
Series 32 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 297	$ 300
Series 30 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.69%
Series 30 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,787,090	9,852,258
Series 30 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 241	$ 243
Series 28 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	2.73%
Series 28 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,233,927	9,289,397
Series 28 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 232	$ 233
Series 26 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	3.47%
Series 26 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,770,928	9,840,588
Series 26 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 240	$ 241
Series 24 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	3.01%
Series 24 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,278,894	9,338,572
Series 24 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 227	$ 228
Series 9 Class A Preferred Shares \| Fixed rate-reset preferred shares
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	2.75%
Series 9 Class A Preferred Shares \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	1,515,981	1,515,981
Series 9 Class A Preferred Shares \| Preferred equity \| Fixed rate-reset preferred shares \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 21	$ 21
Series 37 Class A Preferred Shares \| Fixed rate
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.90%
Series 37 Class A Preferred Shares \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	7,830,091	7,888,143
Series 37 Class A Preferred Shares \| Preferred equity \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 193	$ 194
Series 36 Class A Preferred Shares \| Fixed rate
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.85%
Series 36 Class A Preferred Shares \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	7,842,909	7,900,764
Series 36 Class A Preferred Shares \| Preferred equity \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 197	$ 199
Series 25 Class A Preferred Shares \| Canada Treasury Bill Securities \| Perpetual Preferred Shares [Member]
Disclosure of classes of share capital [line items]
Preferred stock, basis spread on variable rate		2.00%
Series 25 Class A Preferred Shares \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	1,529,133	1,529,133
Series 25 Class A Preferred Shares \| Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 38	$ 38
Series 18 Class A Preferred Shares \| Fixed rate
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.75%
Series 18 Class A Preferred Shares \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	7,866,749	7,921,178
Series 18 Class A Preferred Shares \| Preferred equity \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 178	$ 179
Series 17 Class A Preferred Shares \| Fixed rate
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage	4.75%
Series 17 Class A Preferred Shares \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	7,840,204	7,901,476
Series 17 Class A Preferred Shares \| Preferred equity \| Fixed rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 171	$ 172
Series 15 Class A Preferred Shares \| Bankers' Acceptance Rate \| Perpetual Preferred Shares [Member]
Disclosure of classes of share capital [line items]
Preferred stock, basis spread on variable rate		0.40%
Series 15 Class A Preferred Shares \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	2,000,000	2,000,000
Series 15 Class A Preferred Shares \| Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 42	$ 42
Series 13 Class A Preferred Shares \| Prime Rate \| Perpetual Preferred Shares [Member]
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage		70.00%
Series 13 Class A Preferred Shares \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	9,290,096	9,290,096
Series 13 Class A Preferred Shares \| Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 195	$ 195
Series 8 Class A Preferred Shares \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	2,476,185	2,476,185
Series 8 Class A Preferred Shares \| Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 42	$ 42
Series 4 Class A Preferred Shares \| Prime Rate \| Perpetual Preferred Shares [Member]
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage		8.50%
Series 4 Class A Preferred Shares \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	2,795,910	2,795,910
Series 4 Class A Preferred Shares \| Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 45	$ 45
Series 2 Class A Preferred Shares \| Prime Rate \| Perpetual Preferred Shares [Member]
Disclosure of classes of share capital [line items]
Preferred stock, dividend rate, percentage		70.00%
Series 2 Class A Preferred Shares \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	10,457,685	10,457,685
Series 2 Class A Preferred Shares \| Preferred equity \| Floating rate \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 169	$ 169

EQUITY - Narrative (Details)

EQUITY - Narrative (Details)	12 Months Ended
EQUITY - Narrative (Details)	Dec. 31, 2019USD ($)yearshares$ / shares	Dec. 31, 2018USD ($)yearshares$ / shares	Sep. 30, 2019USD ($)	Dec. 31, 2018$ / shares	Dec. 31, 2017shares
Disclosure of classes of share capital [line items]
Dividends paid, ordinary shares per share \| $ / shares	$ 0.64	$ 0.60
Dividends received		$ 1,903,000,000
Number of Common Shares Held by the Company \| shares	42,278,231	37,538,531			30,569,215
Common equity	$ (620,000,000)	$ (575,000,000)
Expense from share-based payment transactions with employees	$ 87,000,000	$ 84,000,000
Preferred shares
Disclosure of classes of share capital [line items]
Par value per share (in cad per share) \| $ / shares				$ 25
Common shares
Disclosure of classes of share capital [line items]
Adjusted weighted average number of ordinary shares outstanding \| shares	1,052,874,535	997,229,553
Class B shares \| Common shares
Disclosure of classes of share capital [line items]
Number of shares authorised (in shares) \| shares	85,120
Equity-Settled Share-Based Payment Arrangement \| Management Share Option Plan
Disclosure of classes of share capital [line items]
Weighted average fair value at measurement date, share options granted	$ 5.89	$ 5.38
Option life, share options granted \| year	7.5	7.5
Expected volatility, share options granted	1690.00%	1630.00%
Weighted average expected dividend yield, annual	200.00%	190.00%
Risk-free rate	250.00%	280.00%
Liquidity Discount	2500.00%	2500.00%
Equity-Settled Share-Based Payment Arrangement \| Escrowed Stock Plan
Disclosure of classes of share capital [line items]
Weighted average fair value at measurement date, share options granted	$ 6.81	$ 5.38
Number of share options granted in share-based payment arrangement \| shares	10,650,000	5,815,000
Weighted average exercise price of share options exercised in share-based payment arrangement	$ 23.66	$ 21.40
Option life, share options granted \| year	8.5	7,500,000
Expected volatility, share options granted	1730.00%	1630000000.00%
Weighted average expected dividend yield, annual	180.00%	190000000.00%
Risk-free rate	210.00%	280000000.00%
Liquidity Discount	2500.00%	2500000000.00%
Equity-Settled Share-Based Payment Arrangement \| Executives [Member] \| Escrowed Stock Plan \| Common Class A
Disclosure of classes of share capital [line items]
Number of shares purchased (in shares) \| shares	10,700,000	5,800,000
Expense from share-based payment transactions with employees	$ 25,000,000	$ 25,000,000
Equity-Settled Share-Based Payment Arrangement \| Executives [Member] \| Restricted Stock \| Common Class A
Disclosure of classes of share capital [line items]
Share based awards, vesting period	5 years
Number of instruments granted in share-based payment arrangement \| shares	800,493	581,051
Expense from share-based payment transactions with employees	$ 25,000,000	$ 20,000,000
Equity-Settled Share-Based Payment Arrangement \| Executives [Member] \| Top of range \| Escrowed Stock Plan \| Common Class A
Disclosure of classes of share capital [line items]
Share based awards, vesting period	5 years
Share-Based Compensation Arrangement By Share-Based Payment Award, Expiration Period1	10 years
Equity-Settled Share-Based Payment Arrangement \| Executive Officer \| Restricted Stock \| Common Class A
Disclosure of classes of share capital [line items]
Share based awards, hold period	5 years
Cash-Settled Share-Based Payment Arrangement \| Employees and Directors \| Deferred Stock Units and Restricted Stock Units
Disclosure of classes of share capital [line items]
Share based awards, vesting period	5 years
Share Options Vested In Share-Based Payment Arrangement	$ 1,400,000,000	894,000,000
Expense from share-based payment transactions with employees	7,000,000	11,000,000
Oaktree [Member] \| Brookfield Class A Shares [Member]
Disclosure of classes of share capital [line items]
Consideration transferred, acquisition-date fair value			$ 53,000,000
Percentage of voting equity interests acquired			61.00%
Private Equity
Disclosure of classes of share capital [line items]
Dividends received	122,000,000
Private Equity \| Construction Services [Member]
Disclosure of classes of share capital [line items]
Transaction price allocated to remaining performance obligations	$ 7,000,000,000	$ 8,000,000,000
Explanation of when entity expects to recognise transaction price allocated to remaining performance obligations as revenue	P2Y	2
Service concession arrangements [member] \| Private Equity \| Brazilian water and wastewater services [Member]
Disclosure of classes of share capital [line items]
Explanation of when entity expects to recognise transaction price allocated to remaining performance obligations as revenue	P24Y	P25Y

EQUITY - Schedule Of Non-Contro

EQUITY - Schedule Of Non-Controlling Interests (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of classes of share capital [line items]
Equity	$ 116,846	$ 97,150
Non-controlling interests
Disclosure of classes of share capital [line items]
Equity	81,833	67,335
Non-controlling interests \| Common shares
Disclosure of classes of share capital [line items]
Equity	76,557	62,109
Non-controlling interests \| Preferred shares
Disclosure of classes of share capital [line items]
Equity	$ 5,276	$ 5,226

EQUITY - Schedule Of Common Equ

EQUITY - Schedule Of Common Equity (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of classes of share capital [line items]
Equity	$ 116,846	$ 97,150
Common shares \| Common shares
Disclosure of classes of share capital [line items]
Equity	7,305	4,457
Common shares \| Contributed surplus
Disclosure of classes of share capital [line items]
Equity	286	271
Common shares \| Retained earnings
Disclosure of classes of share capital [line items]
Equity	16,026	14,244
Common shares \| Ownership changes
Disclosure of classes of share capital [line items]
Equity	1,010	645
Common shares \| Accumulated other comprehensive income
Disclosure of classes of share capital [line items]
Equity	6,241	6,030
Common shares \| Common equity
Disclosure of classes of share capital [line items]
Equity	$ 30,868	$ 25,647

EQUITY - Schedule Of Number Of

EQUITY - Schedule Of Number Of Issued And Outstanding Common Shares And Unexercised Options (Details) - shares	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of classes of share capital [line items]
Number of Common Shares Held by the Company	42,278,231	37,538,531	30,569,215
Common shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	1,006,195,761	955,142,841	958,773,120
Unexercised options and other share-based plans (in shares)	46,678,774	42,086,712
Total diluted shares (in shares)	1,052,874,535	997,229,553
Class A shares \| Common shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	1,006,110,641	955,057,721
Class B shares \| Common shares
Disclosure of classes of share capital [line items]
Issued and Outstanding (in shares)	85,120	85,120

EQUITY - Schedule Of Authorized

EQUITY - Schedule Of Authorized Share Capital (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Issued (repurchased)
Number of Common Shares Held by the Company	42,278,231	37,538,531	30,569,215
Common shares
Disclosure of classes of share capital [line items]
Beginning balance (in shares)	955,142,841	958,773,120
Issued (repurchased)
Share issuance	52,757,437	0
Repurchases (in shares)	(7,188,534)	(9,579,740)
Long-term share ownership plans (in shares)	5,346,417	5,752,331
Dividend reinvestment plan and others (in shares)	137,600	197,130
Ending balance (in shares)	1,006,195,761	955,142,841

EQUITY - Schedule Of Basic And

EQUITY - Schedule Of Basic And Diluted Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equity [abstract]
Net income (loss)	$ 2,807	$ 3,584
Dilutive effect of conversion of subsidiary preferred shares	(152)		$ (151)
Dilutive effect of mandatorily redeemable preferred shares issued in a consolidated subsidiary	74		105
Profit (loss), attributable to ordinary equity holders of parent entity	$ 2,581		$ 3,328
Weighted average - common shares	968.6		957.6
Dilutive effect of the conversion of options and escrowed shares using the treasury stock method	23.7		19.8
Common shares and common share equivalents	992.3		977.4

EQUITY - Schedule Of Expense Re

EQUITY - Schedule Of Expense Recognized For Share-Based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Equity [abstract]
Expense arising from equity-settled share-based payment transactions	$ 81	$ 73
Expense arising from cash-settled share-based payment transactions	506	(64)
Total expense arising from share-based payment transactions	587	9
Effect of hedging program	(500)	75
Total expense included in consolidated income	$ 87	$ 84

EQUITY - Schedule Of Options (D

EQUITY - Schedule Of Options (Details) shares in Thousands	12 Months Ended
EQUITY - Schedule Of Options (Details) shares in Thousands	Dec. 31, 2019USD ($)shares	Dec. 31, 2019CAD ($)shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2018CAD ($)shares
Management Share Option Plan \| Equity-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of share options granted (in dollars per share) \| $	$ 45.63		$ 40.42
Escrowed Stock Plan \| Equity-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Beginning balance (in shares)	27,103	27,103	27,772	27,772
Granted (in shares)	10,650	10,650	5,815	5,815
Exercised (in shares)	(1,075)	(1,075)	(6,484)	(6,484)
Canceled (in shares), Beginning balance (in shares), Management Share Option Plan	(151)	(151)
Ending balance (in shares)	36,527	36,527	27,103	27,103
Weighted average exercise price, beginning balance (in dollars per share) \| $	$ 33.27		$ 29.01
Weighted average exercise price of share options granted (in dollars per share) \| $	51.11		40.39
Weighted average exercise price of share options exercised (in dollars per share) \| $	23.66		21.40
Weighted average exercise price, ending balance (in dollars per share) \| $	38.73		$ 33.27
Weighted average exercise price of share options cancelled (in dollars per share) \| $	$ 39.48
Deferred Stock Unit \| Cash-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Beginning balance (in shares)	14,637	14,637	14,944	14,944
Ending balance (in shares)	14,135	14,135	14,637	14,637
Granted and reinvested (in shares)	532	532	466	466
Exercised and canceled (in shares)	(1,034)	(1,034)	(773)	(773)
Restricted Stock \| Cash-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Beginning balance (in shares)	10,540	10,540	10,920	10,920
Ending balance (in shares)	10,540	10,540	10,540	10,540
Weighted average exercise price, beginning balance (in dollars per share) \| $		$ 9.21		$ 9.09
Weighted average exercise price, ending balance (in dollars per share) \| $		9.21		9.21
Weighted Average Exercise Price Of Share Options Granted And Reinvested (in dollars per share) \| $		0		0
Weighted Average Exercise Price Of Share Options Exercised And Cancelled (in dollars per share) \| $		$ 0		$ 5.89
Granted and reinvested (in shares)	0	0	0	0
Exercised and canceled (in shares)	0	0	(380)	(380)
TSX Common Class A Shares \| Management Share Option Plan \| Equity-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Beginning balance (in shares)	790	790	2,797	2,797
Granted (in shares)	0	0	0	0
Weighted average exercise price of share options granted in share-based payment arrangement \| $		$ 0		$ 0
Exercised (in shares)	(790)	(790)	(2,007)	(2,007)
Canceled (in shares), Beginning balance (in shares), Management Share Option Plan	0	0	0	0
Ending balance (in shares)	0	0	790	790
Weighted average exercise price, beginning balance (in dollars per share) \| $		$ 11.77		$ 12.35
Weighted average exercise price of share options exercised (in dollars per share) \| $		11.77		12.59
Weighted Average Exercise Price Of Share Options Cancelled In Share-Based Payment Arrangement \| $		0		0
Weighted average exercise price, ending balance (in dollars per share) \| $		$ 0		$ 11.77
NYSE Common Class A Shares \| Management Share Option Plan \| Equity-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Beginning balance (in shares)	36,742	36,742	34,893	34,893
Granted (in shares)	5,077	5,077	4,538	4,538
Weighted average exercise price of share options granted in share-based payment arrangement \| $	$ 45.63		$ 40.42
Exercised (in shares)	(7,831)	(7,831)	(2,492)	(2,492)
Canceled (in shares), Beginning balance (in shares), Management Share Option Plan	(186)	(186)	(197)	(197)
Ending balance (in shares)	33,802	33,802	36,742	36,742
Weighted average exercise price, beginning balance (in dollars per share) \| $	$ 29.52		$ 27.71
Weighted average exercise price of share options exercised (in dollars per share) \| $	20.26		23.58
Weighted Average Exercise Price Of Share Options Cancelled In Share-Based Payment Arrangement \| $	40.02		34.81
Weighted average exercise price, ending balance (in dollars per share) \| $	$ 34.03		$ 29.52

EQUITY - Schedule Using Black-S

EQUITY - Schedule Using Black-Scholes Module (Details)	12 Months Ended
EQUITY - Schedule Using Black-Scholes Module (Details)	Dec. 31, 2019USD ($)year	Dec. 31, 2018USD ($)year	Dec. 31, 2019CAD ($)	Dec. 31, 2018CAD ($)
Equity Settled Management Share Option Plan [Member] \| Equity-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of share options granted (in dollars per share)	$ 45.63	$ 40.42
Weighted-average fair value of a unit	$ 5.89	$ 5.38
Average term to exercise \| year	7.5	7.5
Expected volatility, share options granted	1690.00%	1630.00%
Liquidity discount	2500.00%	2500.00%
Expected dividend as percentage, share options granted	200.00%	190.00%
Risk free interest rate, share options granted	250.00%	280.00%
Escrowed Stock Plan \| Equity-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of share options granted (in dollars per share)	$ 51.11	$ 40.39
Weighted-average fair value of a unit	$ 6.81	$ 5.38
Average term to exercise \| year	8.5	7,500,000
Expected volatility, share options granted	1730.00%	1630000000.00%
Liquidity discount	2500.00%	2500000000.00%
Expected dividend as percentage, share options granted	180.00%	190000000.00%
Risk free interest rate, share options granted	210.00%	280000000.00%
Deferred Stock Unit \| Cash-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Price on Date of Remeasurement in Canadian Dollars Per Share			$ 75.03	$ 52.32
Share price, on date of measurement	$ 57.80	$ 38.35
Restricted Stock \| Cash-Settled Share-Based Payment Arrangement
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share Price on Date of Remeasurement in Canadian Dollars Per Share			75.03	52.32
Weighted-average fair value of a unit			$ 65.82	$ 43.11

EQUITY - Schedule Of Options to

EQUITY - Schedule Of Options to Purchase Class A Shares (Details)	12 Months Ended
	Dec. 31, 2019USD ($)yearshares	Dec. 31, 2019CAD ($)yearshares	Dec. 31, 2018USD ($)yearshares	Dec. 31, 2018CAD ($)yearshares	Dec. 31, 2019CAD ($)shares	Dec. 31, 2018CAD ($)shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2017CAD ($)shares
Deferred Stock Unit \| Cash-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement	14,135,000		14,637,000		14,135,000	14,637,000	14,944,000	14,944,000
Number Of Share Options Granted And Reinvested In Share-Based Payment Arrangement	532,000	532,000	466,000	466,000
Number Of Share Options Exercised And Cancelled In Share-Based Payment Arrangement	(1,034,000)	(1,034,000)	(773,000)	(773,000)
Equity Settled Escrowed Stock Plan [Member] \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Weighted average exercise price of share options granted (in dollars per share) \| $	$ 51.11		$ 40.39
Exercise Price (in dollars per share \| $	$ 38.73		$ 33.27				$ 29.01
Number of share options outstanding in share-based payment arrangement	36,527,000		27,103,000		36,527,000	27,103,000	27,772,000	27,772,000
Weighted average fair value at measurement date, share options granted \| $	$ 6.81		$ 5.38
Option life, share options granted \| year	8.5	8.5	7,500,000	7,500,000
Expected volatility, share options granted	1730.00%	1730.00%	1630000000.00%	1630000000.00%
Liquidity Discount	2500.00%	2500.00%	2500000000.00%	2500000000.00%
Expected dividend as percentage, share options granted	180.00%	180.00%	190000000.00%	190000000.00%
Risk free interest rate, share options granted	210.00%	210.00%	280000000.00%	280000000.00%
Number of share options granted in share-based payment arrangement	10,650,000	10,650,000	5,815,000	5,815,000
Number of share options exercised in share-based payment arrangement	(1,075,000)	(1,075,000)	(6,484,000)	(6,484,000)
Weighted average exercise price of share options exercised in share-based payment arrangement \| $	$ 23.66		$ 21.40
Management Share Option Plan \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Weighted average exercise price of share options granted (in dollars per share) \| $	45.63		40.42
Weighted average fair value at measurement date, share options granted \| $	$ 5.89		$ 5.38
Option life, share options granted \| year	7.5	7.5	7.5	7.5
Expected volatility, share options granted	1690.00%	1690.00%	1630.00%	1630.00%
Liquidity Discount	2500.00%	2500.00%	2500.00%	2500.00%
Expected dividend as percentage, share options granted	200.00%	200.00%	190.00%	190.00%
Risk free interest rate, share options granted	250.00%	250.00%	280.00%	280.00%
Management Share Option Plan \| Class A shares \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)	20,084,000		22,685,000		20,084,000	22,685,000
Unvested (in shares)	13,718,000		14,847,000		13,718,000	14,847,000
Number of share options outstanding in share-based payment arrangement	33,802,000		37,532,000		33,802,000	37,532,000
Management Share Option Plan \| Class A shares \| C$11.77 \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)			790,000			790,000
Unvested (in shares)			0			0
Number of share options outstanding in share-based payment arrangement			790,000			790,000
Management Share Option Plan \| Class A shares \| Range two \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)	3,746,000				3,746,000
Unvested (in shares)	0				0
Number of share options outstanding in share-based payment arrangement	3,746,000				3,746,000
Management Share Option Plan \| Class A shares \| Range three \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)	8,348,000		4,255,000		8,348,000	4,255,000
Unvested (in shares)	1,542,000		0		1,542,000	0
Number of share options outstanding in share-based payment arrangement	9,890,000		4,255,000		9,890,000	4,255,000
Management Share Option Plan \| Class A shares \| Exercise Price Range Four [Member] \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)	7,581,000		5,160,000		7,581,000	5,160,000
Unvested (in shares)	7,514,000		0		7,514,000	0
Number of share options outstanding in share-based payment arrangement	15,095,000		5,160,000		15,095,000	5,160,000
Management Share Option Plan \| Class A shares \| Exercise Price Range Five [Member] \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)	409,000		8,410,000		409,000	8,410,000
Unvested (in shares)	4,662,000		3,293,000		4,662,000	3,293,000
Number of share options outstanding in share-based payment arrangement	5,071,000		11,703,000		5,071,000	11,703,000
Management Share Option Plan \| Class A shares \| Exercise Price Range Six [Member] \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)			2,873,000			2,873,000
Unvested (in shares)			2,115,000			2,115,000
Number of share options outstanding in share-based payment arrangement			4,988,000			4,988,000
Management Share Option Plan \| Class A shares \| Exercise Price Range Seven [Member] \| Equity-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Vested (in shares)			1,197,000			1,197,000
Unvested (in shares)			9,439,000			9,439,000
Number of share options outstanding in share-based payment arrangement			10,636,000			10,636,000
Restricted Share Unit [Member] \| Cash-Settled Share-Based Payment Arrangement
Disclosure of classes of share capital [line items]
Exercise Price (in dollars per share \| $					$ 9.21	$ 9.21		$ 9.09
Number of share options outstanding in share-based payment arrangement	10,540,000		10,540,000		10,540,000	10,540,000	10,920,000	10,920,000
Weighted average fair value at measurement date, share options granted \| $					$ 65.82	$ 43.11
Number Of Share Options Granted And Reinvested In Share-Based Payment Arrangement	0	0	0	0
Weighted Average Exercise Price Of Share Options Granted And Reinvested In Share-Based Payment Arrangement \| $		$ 0		$ 0
Number Of Share Options Exercised And Cancelled In Share-Based Payment Arrangement	0	0	(380,000)	(380,000)
Weighted Average Exercise Price Of Share Options Exercised And Cancelled In Share-Based Payment Arrangement \| $		$ 0		$ 5.89

REVENUES - BY TYPE (Details)

REVENUES - BY TYPE (Details) - USD ($) $ in Millions	12 Months Ended
REVENUES - BY TYPE (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 58,799	$ 51,161
Other revenue	9,027	5,610
Revenue	67,826	56,771
Asset management
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	271	187
Other revenue	0	0
Revenue	271	187
Real Estate
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,833	3,107
Other revenue	6,609	4,968
Revenue	10,442	8,075
Renewable Power
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,810	3,651
Other revenue	149	100
Revenue	3,959	3,751
Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	6,333	4,859
Other revenue	758	154
Revenue	7,091	5,013
Private Equity
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	42,147	36,693
Other revenue	952	135
Revenue	43,099	36,828
Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,396	2,651
Other revenue	60	32
Corporate Activities
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	9	13
Other revenue	499	221
Revenue	508	234
Residential Development
Disaggregation of Revenue [Line Items]
Revenue	2,456	2,683
Goods or services transferred over time [member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	20,752
Other revenue		18,239
Goods or services transferred over time [member] \| Asset management
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	271	187
Goods or services transferred over time [member] \| Real Estate
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,640	1,989
Goods or services transferred over time [member] \| Renewable Power
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,715	3,572
Goods or services transferred over time [member] \| Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	6,108	4,658
Goods or services transferred over time [member] \| Private Equity
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	8,006	7,833
Goods or services transferred over time [member] \| Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	12	0
Goods or services transferred over time [member] \| Corporate Activities
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Goods or services transferred at point in time [member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	38,047	32,922
Goods or services transferred at point in time [member] \| Asset management
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Goods or services transferred at point in time [member] \| Real Estate
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,193	1,118
Goods or services transferred at point in time [member] \| Renewable Power
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	95	79
Goods or services transferred at point in time [member] \| Infrastructure
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	225	201
Goods or services transferred at point in time [member] \| Private Equity
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	34,141	28,860
Goods or services transferred at point in time [member] \| Residential
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,384	2,651
Goods or services transferred at point in time [member] \| Corporate Activities
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 9	$ 13

REVENUES - BY TIMING OF RECOGNI

REVENUES - BY TIMING OF RECOGNITION OF REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	$ 58,799	$ 51,161
Asset management
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	271	187
Real Estate
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	3,833	3,107
Renewable Power
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	3,810	3,651
Infrastructure
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	6,333	4,859
Private Equity
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	42,147	36,693
Residential
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	2,396	2,651
Corporate Activities
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	9	13
Goods or services transferred at point in time [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	38,047	32,922
Goods or services transferred at point in time [member] \| Asset management
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	0	0
Goods or services transferred at point in time [member] \| Real Estate
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	1,193	1,118
Goods or services transferred at point in time [member] \| Renewable Power
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	95	79
Goods or services transferred at point in time [member] \| Infrastructure
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	225	201
Goods or services transferred at point in time [member] \| Private Equity
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	34,141	28,860
Goods or services transferred at point in time [member] \| Residential
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	2,384	2,651
Goods or services transferred at point in time [member] \| Corporate Activities
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	9	13
Goods or services transferred over time [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	20,752
Goods or services transferred over time [member] \| Asset management
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	271	187
Goods or services transferred over time [member] \| Real Estate
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	2,640	1,989
Goods or services transferred over time [member] \| Renewable Power
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	3,715	3,572
Goods or services transferred over time [member] \| Infrastructure
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	6,108	4,658
Goods or services transferred over time [member] \| Private Equity
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	8,006	7,833
Goods or services transferred over time [member] \| Residential
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	12	0
Goods or services transferred over time [member] \| Corporate Activities
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	$ 0	$ 0

REVENUES - Narrative (Details)

REVENUES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
REVENUES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 67,826	$ 56,771
Operating lease income	6,800
Income relating to variable lease payments for operating leases that do not depend on index or rate	67
Private Equity
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	43,099	36,828
Private Equity \| Construction Services [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Transaction price allocated to remaining performance obligations	$ 7,000	$ 8,000
Backlog	P2Y	2
Private Equity \| Service concession arrangements [member] \| Brazilian water and wastewater services [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Backlog	P24Y	P25Y

REVENUES Revenue - Lease Paymen

REVENUES Revenue - Lease Payment Receivable (Details) $ in Millions	Dec. 31, 2019USD ($)
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments to be received	$ 35,372
Later than one year [member]
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments to be received	4,514
1 to 3 Years
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments to be received	8,239
Later than four years and not later than five years [member]
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments to be received	6,744
Thereafter
Disclosure of maturity analysis of finance lease payments receivable [line items]
Undiscounted finance lease payments to be received	$ 15,875

DIRECT COSTS - Schedule of List

DIRECT COSTS - Schedule of Lists of Direct Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Analysis of income and expense [abstract]
Cost of sales	$ 41,463	$ 37,506
Compensation	6,035	3,954
Selling, general and administrative expenses	2,612	1,765
Property taxes, sales taxes and other	2,618	2,294
Total	$ 52,728	$ 45,519

FAIR VALUE CHANGES (Details)

FAIR VALUE CHANGES (Details) - USD ($) $ in Millions	12 Months Ended
FAIR VALUE CHANGES (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of fair value measurement of assets [line items]
Fair value changes in net income	$ (831)	$ 1,794
Investment property [member]
Disclosure of fair value measurement of assets [line items]
Fair value changes in net income	1,710	1,610
Transaction related gains, net of deal costs
Disclosure of fair value measurement of assets [line items]
Fair value changes in net income	(895)	1,132
Financial contracts
Disclosure of fair value measurement of assets [line items]
Fair value changes in net income	(140)	(189)
Impairment and provisions
Disclosure of fair value measurement of assets [line items]
Fair value changes in net income	(825)	(309)
Other fair value changes
Disclosure of fair value measurement of assets [line items]
Fair value changes in net income	$ (681)	$ (450)

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Notional Amount of Derivative Positions (Details) $ in Millions	Dec. 31, 2019USD ($)MMBTUGWh	Dec. 31, 2018USD ($)MMBTUGWh
Foreign exchange
Disclosure of detailed information about financial instruments [line items]
Derivative, Notional Amount1	$ 37,334	$ 33,298
Interest rates
Disclosure of detailed information about financial instruments [line items]
Derivative, Notional Amount1	51,619	38,490
Credit default swaps
Disclosure of detailed information about financial instruments [line items]
Derivative, Notional Amount1	39	56
Equity derivatives
Disclosure of detailed information about financial instruments [line items]
Derivative, Notional Amount1	$ 2,500	$ 1,400
Energy commodity instrument [Member]
Disclosure of detailed information about financial instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	25,136	14,752
Natural gas commodity instrument [Member]
Disclosure of detailed information about financial instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	78,364,000	63,076,000

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Foreign Exchange Contract Derivative Positions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Foreign exchange contracts
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 37,334	$ 33,298
Foreign exchange contracts \| Canadian dollars
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 6,839	$ 4,959
Average Exchange Rate	0.75	0.76
Foreign exchange contracts \| British pounds
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 7,874	$ 4,952
Average Exchange Rate	1.27	1.32
Foreign exchange contracts \| European Union euros
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 2,069	$ 3,829
Average Exchange Rate	1.16	1.21
Foreign exchange contracts \| Australian dollars
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 3,989	$ 3,781
Average Exchange Rate	0.71	0.74
Foreign exchange contracts \| Indian rupees
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 240	$ 697
Average Exchange Rate	73.55	72.73
Foreign exchange contracts \| Chile, Pesos
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 548	$ 615
Average Exchange Rate	722.08	647.37
Foreign exchange contracts \| Korean won
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 687	$ 561
Average Exchange Rate	1,173	1,102
Foreign exchange contracts \| Chinese yuan1
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 1,862	$ 543
Average Exchange Rate	5.42	6.85
Foreign exchange contracts \| Japanese yen
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 111	$ 404
Average Exchange Rate	104.58	104.45
Foreign exchange contracts \| Brazilian reais
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 484	$ 78
Average Exchange Rate	0.24	0.24
Foreign exchange contracts \| Sweden, Kronor
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 1,578	$ 94
Average Exchange Rate	9.10	7.87
Foreign exchange contracts \| Other currencies
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 584	$ 436
Foreign exchange contracts \| Colombian pesos1
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 534	$ 370
Average Exchange Rate	3,416.30	2,977.01
Cross currency interest rate swaps [Member] \| Canadian dollars
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 4,493	$ 4,167
Average Exchange Rate	0.77	0.75
Cross currency interest rate swaps [Member] \| British pounds
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 267	$ 257
Average Exchange Rate	1.49	1.49
Cross currency interest rate swaps [Member] \| European Union euros
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 103	$ 1,914
Average Exchange Rate	1.09	1.06
Cross currency interest rate swaps [Member] \| Australian dollars
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 2,033	$ 1,454
Average Exchange Rate	0.98	1
Cross currency interest rate swaps [Member] \| Japanese yen
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 18	$ 750
Average Exchange Rate	110	113.32
Cross currency interest rate swaps [Member] \| Other currencies
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 0	$ 15
Average Exchange Rate	0
Cross currency interest rate swaps [Member] \| Colombian pesos1
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 100	$ 125
Average Exchange Rate	3,463	3,056
Futures contract [member] \| Brazilian reais
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 38	$ 0
Average Exchange Rate	0.25	0
Foreign exchange options [Member] \| Canadian dollars
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 0	$ 98
Average Exchange Rate	0
Foreign exchange options [Member] \| British pounds
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 1,338	$ 1,736
Average Exchange Rate	1.43	1.31
Foreign exchange options [Member] \| European Union euros
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 1,544	$ 463
Average Exchange Rate	1.12	1.15
Foreign exchange options [Member] \| Chinese yuan1
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items]
Derivative, Notional Amount1	$ 0	$ 500
Average Exchange Rate	0	7.10

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)MMBTU	Dec. 31, 2018USD ($)MMBTU
Disclosure of detailed information about hedging instruments [line items]
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	$ 19	$ 248
Equity derivatives
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	500	1,100
Foreign exchange contracts
Disclosure of detailed information about hedging instruments [line items]
Unrealised Gains (Losses) On Change In Fair Value Of Derivatives	201	457
Gains in respect of foreign currency contracts entered into for hedging purposes	(409)	1,300
Nominal amount of derivative positions	$ 37,334	$ 33,298
Natural gas commodity instrument [Member]
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	78,364,000	63,076,000
Interest Rate Swaptions
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	$ 0	$ 5,300
Interest rate swap and forward starting swap contracts
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	25,000	13,900
Credit Default Swaps
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	39	56
Payments to be received in the event of a predetermined credit event	0	56
Payments required to be made of notional amount		0
Interest Rate Cap Contracts
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	$ 26,600	$ 19,300

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Hedge Classification (Details) bbl in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)MMBTUGWhbbl	Dec. 31, 2018USD ($)MMBTUGWhbbl
Cash flow hedges
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	$ 32,709,000,000	$ 24,999
Gains (losses) on cash flow hedges, before tax	(89,000,000)	38,000,000
Ineffective Portion	20,000,000	(3,000,000)
Net investment hedges
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	22,790,000,000	17,319
Gains (losses) on hedges of net investments in foreign operations, before tax	(400,000,000)	999,000,000
Ineffective Portion	16,000,000	9,000,000
Cash flow hedges and hedges of net investment in foreign operations [Member]
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of derivative positions	55,499,000,000	42,318
Gain (loss) on hedge effectiveness recognised in other comprehensive income	(522,000,000)	1,037,000,000
Ineffective Portion	$ 36,000,000	$ 6,000,000
Oil and gas assets [member] \| Cash flow hedges
Disclosure of detailed information about hedging instruments [line items]
Number in Barrels of Commodity Derivatives \| bbl	2,273	3,151
Energy commodity instrument [Member]
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	25,136	14,752
Energy commodity instrument [Member] \| Cash flow hedges
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	14,485	6,040
Natural gas commodity instrument [Member]
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	78,364,000	63,076,000
Natural gas commodity instrument [Member] \| Cash flow hedges
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	12,164,000	8,423,000

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS - Change in Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about hedging instruments [line items]
Unrealized Gains	$ 542
Unrealized losses	(523)
Net Change	19	$ 248
Foreign exchange
Disclosure of detailed information about hedging instruments [line items]
Unrealized Gains	419
Unrealized losses	(218)
Net Change	201	457
Interest rates
Disclosure of detailed information about hedging instruments [line items]
Unrealized Gains	43
Unrealized losses	(264)
Net Change	(221)	(17)
Credit default swaps
Disclosure of detailed information about hedging instruments [line items]
Unrealized Gains	0
Unrealized losses	(1)
Net Change	(1)	3
Equity derivatives
Disclosure of detailed information about hedging instruments [line items]
Unrealized Gains	24
Unrealized losses	(11)
Net Change	13	(129)
Commodity instruments
Disclosure of detailed information about hedging instruments [line items]
Unrealized Gains	56
Unrealized losses	(29)
Net Change	$ 27	$ (66)

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS - Notional Amount of Derivative Instruments Fair Value Through Profit or Loss (Details) MMBTU in Thousands, $ in Millions	Dec. 31, 2019USD ($)MMBTUGWh	Dec. 31, 2018USD ($)MMBTUGWh
Foreign exchange contracts \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	$ 29,387	$ 23,995
Foreign exchange contracts \| Less than 1 year \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	15,935
Foreign exchange contracts \| 1 to 5 Years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	12,333
Foreign exchange contracts \| Greater than 5 years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	1,119
Interest rates \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	28,888	21,869
Interest rates \| Less than 1 year \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	6,489
Interest rates \| 1 to 5 Years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	18,405
Interest rates \| Greater than 5 years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	3,994
Equity derivatives
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	500	1,100
Equity derivatives \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	0	$ 0
Equity derivatives \| Less than 1 year \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	0
Equity derivatives \| 1 to 5 Years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	0
Equity derivatives \| Greater than 5 years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	$ 0
Energy commodity instrument [Member] \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	14,485,000,000	6,040,000,000
Energy commodity instrument [Member] \| Less than 1 year \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	7,880,000,000
Energy commodity instrument [Member] \| 1 to 5 Years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	4,596,000,000
Energy commodity instrument [Member] \| Greater than 5 years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	2,009,000,000
Natural gas commodity instrument [Member] \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	12,164	8,423
Natural gas commodity instrument [Member] \| Less than 1 year \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	12,164
Natural gas commodity instrument [Member] \| 1 to 5 Years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	0
Natural gas commodity instrument [Member] \| Greater than 5 years \| Elected for hedge accounting
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	0
Foreign exchange contracts \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	$ 7,946	$ 9,303
Foreign exchange contracts \| Less than 1 year \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	5,986
Foreign exchange contracts \| 1 to 5 Years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	1,803
Foreign exchange contracts \| Greater than 5 years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	157
Interest rates \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	22,731	16,621
Interest rates \| Less than 1 year \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	8,293
Interest rates \| 1 to 5 Years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	13,402
Interest rates \| Greater than 5 years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	1,036
Credit default swaps \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	39	56
Credit default swaps \| Less than 1 year \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	10
Credit default swaps \| 1 to 5 Years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	29
Credit default swaps \| Greater than 5 years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	0
Equity derivatives \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	2,517	$ 1,375
Equity derivatives \| Less than 1 year \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	1,589
Equity derivatives \| 1 to 5 Years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	928
Equity derivatives \| Greater than 5 years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Derivative, Notional Amount1	$ 0
Energy commodity instrument [Member] \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	10,652,000,000	8,712,000,000
Energy commodity instrument [Member] \| Less than 1 year \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	1,997,000,000
Energy commodity instrument [Member] \| 1 to 5 Years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	8,655,000,000
Energy commodity instrument [Member] \| Greater than 5 years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| GWh	0
Natural gas commodity instrument [Member] \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	66,200	54,653
Natural gas commodity instrument [Member] \| Less than 1 year \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	66,200
Natural gas commodity instrument [Member] \| 1 to 5 Years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	0
Natural gas commodity instrument [Member] \| Greater than 5 years \| Fair value through profit or loss
Disclosure of detailed information about hedging instruments [line items]
Nominal Amount of Commodity Derivatives \| MMBTU	0

MANAGEMENT OF RISKS ARISING F_3

MANAGEMENT OF RISKS ARISING FROM HOLDING FINANCIAL INSTRUMENTS - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Basis point increase in interest rates	50
Net income impact of a 50 basis-point increase in interest rate on floating rate financial assets and liabilities	$ 246	$ 198
Basis point parallel increase in yield curve	0
Net income impact of 50 basis point increase in yield curve on financial assets and liabilities	$ 146	128
Other comprehensive income impact of 50 basis point increase in yield curve on financial assets and liabilities	$ 309	149
Currency risk
Disclosure of detailed information about financial instruments [line items]
Percentage of increase in U.S dollar against other currencies	1.00%
Impact of 1% increase in U.S. dollar against foreign currencies on unhedged financial instruments	$ 74	80
Impact of 1% increase in U.S. dollar against foreign currencies on hedged financial instruments	$ 259	240
Equity price risk
Disclosure of detailed information about financial instruments [line items]
Percentage decrease in the market price of equity securities and equity derivatives	5.00%
Impact on Net Income as a Result of a Percentage Decrease Equity Securities	$ 14	50
Impact on Other Comprehensive Income as a Result of a Percentage Decrease Equity Securities	$ 70	85
Percentage change in the common equity price	5.00%
Increase in compensation liability and expense	$ 75	53
Increase (decrease) in equity derivatives used for compensation hedging from a 5% change in the common equity price of the company	80	53
Amount to offset increase in compensation expense	75	51
Other comprehensive income impact of equity derivatives used for compensation hedging	$ 5	2
Other price risk
Disclosure of detailed information about financial instruments [line items]
Percentage increase in energy prices	5.00%
Impact on net income from a 5% decrease in energy prices	$ 5	9
Impact on other comprehensive income from a 5% decrease in energy prices	0	9
Credit risk
Disclosure of detailed information about financial instruments [line items]
Nominal amount of derivative positions	$ 42	63
Basis point increase increase in credit spread of underlying reference assets of credit default contracts	0
Net income impact from a 50 basis point increase in credit spreads of underlying reference assets of credit default swap contracts	$ 1	$ 1

MANAGEMENT OF RISKS ARISING F_4

MANAGEMENT OF RISKS ARISING FROM HOLDING FINANCIAL INSTRUMENTS - Contractual Maturities of Financial Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Principal repayments
Principal repayments of borrowings	$ 7,083	$ 6,409
Principal repayment of borrowings	7,083	6,409
Non-recourse borrowings of managed entities	136,292	111,809
Subsidiary equity obligations	4,132	3,876
Interest expense
Corporate borrowings	3,221	3,014
Non-recourse borrowings	28,124	26,394
Subsidiary equity obligations	731	885
Less than 1 year
Principal repayments
Principal repayments of borrowings	0
Principal repayment of borrowings		440
Non-recourse borrowings of managed entities	15,563	11,159
Subsidiary equity obligations	188	185
Interest expense
Corporate borrowings	327	278
Non-recourse borrowings	5,210	5,126
Subsidiary equity obligations	151	151
1 to 3 Years
Principal repayments
Principal repayments of borrowings	269
Principal repayment of borrowings		257
Non-recourse borrowings of managed entities	28,396	34,055
Subsidiary equity obligations	1,677	1,417
Interest expense
Corporate borrowings	629	535
Non-recourse borrowings	8,524	8,124
Subsidiary equity obligations	261	307
Later than four years and not later than five years [member]
Principal repayments
Principal repayments of borrowings	1,597
Principal repayment of borrowings		441
Non-recourse borrowings of managed entities	34,602	24,633
Subsidiary equity obligations	745	356
Interest expense
Corporate borrowings	551	504
Non-recourse borrowings	6,641	5,820
Subsidiary equity obligations	212	218
Greater than 5 years
Principal repayments
Principal repayments of borrowings	5,217
Principal repayment of borrowings		5,271
Non-recourse borrowings of managed entities	57,731	41,962
Subsidiary equity obligations	1,522	1,918
Interest expense
Corporate borrowings	1,714	1,697
Non-recourse borrowings	7,749	7,324
Subsidiary equity obligations	$ 107	$ 209

CAPITAL MANAGEMENT - Narrative

CAPITAL MANAGEMENT - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of classes of share capital [line items]
Debt-to-total capitalization	15.00%	17.00%
Equity	$ 116,846	$ 97,150
Corporate borrowings	7,083	6,409
Common and preferred equity [Member]
Disclosure of classes of share capital [line items]
Equity	$ 35,000	$ 29,800

RELATED PARTY TRANSACTIONS RE_2

RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS - Renumeration of Directors and Other Key Management (Details) - Key management personnel of entity or parent [member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Disclosure of transactions between related parties [line items]
Salaries, incentives and short-term benefits	$ 19	$ 21
Share-based payments	46	90
Total	$ 65	$ 111

RELATED PARTY TRANSACTIONS RE_3

RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS - Related Party Balances included within Consolidated Financial Statements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Other related parties [member]
Disclosure of transactions between related parties [line items]
Management fees received	$ 97	$ 56

OTHER INFORMATION - Narrative (

OTHER INFORMATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2014
Disclosure of other information [Line Items]
Contractual capital commitments	$ 4,100	$ 3,100
Insurance for Damage and Business Interruption Costs	4,000
Subsidiary preferred equity units	1,650	1,622
Interest costs capitalised	233	$ 176
Brookfield Property Partners L.P. (“BPY”)
Disclosure of other information [Line Items]
Subsidiary preferred equity units	$ 1,800		$ 1,800
Exchangeable price of BPY preferred units issued to QIA	$ 25.70	$ 25.70
Preferred Units, Conversion Condition, Limit Of Market Price To Exchange Price At Maturity, Percent	80.00%
2021 \| Brookfield Property Partners L.P. (“BPY”)
Disclosure of other information [Line Items]
Subsidiary preferred equity units	$ 600		600
2024 \| Brookfield Property Partners L.P. (“BPY”)
Disclosure of other information [Line Items]
Subsidiary preferred equity units			$ 600
Exchangeable price of BPY preferred units issued to QIA			$ 600,000,000
2026 \| Brookfield Property Partners L.P. (“BPY”)
Disclosure of other information [Line Items]
Subsidiary preferred equity units			$ 600
Exchangeable price of BPY preferred units issued to QIA			$ 600,000,000

SUBSEQUENT EVENTS NARRATIVE (De

SUBSEQUENT EVENTS NARRATIVE (Details) $ in Millions, $ in Millions	Dec. 31, 2019USD ($)	Dec. 31, 2019CAD ($)	Dec. 31, 2018USD ($)
Disclosure of detailed information about borrowings [line items]
Book value of borrowings	$ 7,128		$ 6,450
Canadian Term Debt Maturing On March 1, 2021 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Book value of borrowings	$ 600
Annual Rate	3.45%	3.45%
Canadian Term Debt Maturing On March 1, 2021 [Member] [Member]
Disclosure of detailed information about borrowings [line items]
Book value of borrowings	$ 269	$ 350	$ 257
Annual Rate	5.30%	5.30%

Uncategorized Items - bam-20191

Label	Element	Value
Bottom of range [member] \| Infrastructure [Member] \| Residential infrastructure operation [Member]
Remaining amortisation period of intangible assets material to entity	ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity	10
Top of range [member] \| Infrastructure [Member] \| Residential infrastructure operation [Member]
Remaining amortisation period of intangible assets material to entity	ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity	20